Egypt is negotiating with Germany to lease a liquefied natural gas (LNG) unit to secure additional supplies ahead of rising summer demand.

Minister of Petroleum and Mineral Resources Karim Badawi and Director General for Economic Policy in the German Federal Ministry for Economic Affairs and Energy and Ministry Coordinator for Sustainable Development Philipp Steinberg discussed ways to enhance cooperation in the fields of natural gas, hydrogen production, and carbon storage.

Egypt is seeking to benefit from German technologies and industrial expertise in developing the local industry.

Egypt and Germany have signed agreements worth €77.3 million to support various development sectors, according to a statement by the Egyptian Ministry of Planning, Economic Development, and International Cooperation.

A signing ceremony of financing agreements, including a €30 million debt swap agreement, will highlight the first Egyptian-German Development Cooperation Day.

The Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib and the Minister of Economic Affairs of North Rhine-Westphalia witnessed the signing of a joint cooperation declaration between the Egyptian Commercial Service (ECS) and NRW Global Business.

The German company SMS Group is planning to build a direct reduced iron (DRI) plant in Egypt.

The Minister of Investment and Foreign Trade Hassan El-Khatib is heading to Berlin to attend the first economic summit between Egypt and the state of North Rhine-Westphalia.

German energy firm 2G Energy is pursuing partnerships with five Egyptian companies to launch projects in green hydrogen, biogas, and combined heat and power (CHP) systemsز

Egypt and Germany have probed fostering cooperation in the field of evidence-based economic development policies.

The German construction materials manufacturer Knauf is planning to open its third gypsum board factory in Egypt, with direct investments of €80 million, General Manager of Knauf Egypt Mohamed Abdelrasoul stated.

Germany’s Power-to-X (PtX) Development Fund has inked a grant agreement worth €30 million with SCATEC for a green hydrogen project in Egypt.

Trade exchange between Egypt and Germany went up by 4.2% year on year (YoY) in the first half (H1) of 2024 to $2.5 billion, compared to $2.4 billion.

The Minister of Investment and Foreign Trade Hassan El Khatib chaired a roundtable meeting attended by major German and Egyptian companies, aiming to strengthen economic and investment cooperation between Cairo and Berlin, as per a statement.

The Egyptian President Abdel Fattah El-Sisi met with German President Frank-Walter Steinmeier at Al-Ittihadiya Palace to mull ways of enhancing bilateral cooperation in various fields, as per a statement.

Minister of International Cooperation Rania Al-Mashat and German Ambassador to Egypt Frank Hartmann have penned a cooperation agreement worth €103.5 million to fund three development programs across Egypt.

The Egyptian House of Representatives has approved non-refundable grants worth €80.5 million from Germany and the European Investment Bank (EIB) to implement several development projects.

Oriental Weavers (OW) has represented Egypt at Domotex 2024, held in Hannover, Germany from January 11th to 14th.

The Ministry of International Cooperation has signed soft development financing worth €53 million with the German KfW Development Bank for the smart grid development project for the Ministry of Electricity and Renewable Energy.

The governments of Egypt and Germany are mulling over ways of enhancing joint cooperation in the fields of green energy and petrochemicals.