CAIRO, June 23 (MENA) - Prime Minister Moustafa Madbouli confirmed that various agencies represented in the Crisis Management Committee are closely monitoring the repercussions of the ongoing Iranian-Israeli military operations.

The committee is tracking developments related to the conflict and assessing its potential consequences—particularly in terms of petroleum product prices and other strategic goods, according to him.

This came during a meeting chaired by the premier on Monday with the committee to review the fallout from the Iranian-Israeli military operations.

Attendees included Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el-Wazir, Minister of Electricity and Renewable Energy Mahmoud Esmat, Minister of Local Development Manal Awad, Minister of Finance Ahmed Kouchouk, Minister of Supply and Internal Trade Sherif Farouq, Minister of Petroleum and Mineral Resources Karim Badawi, and representatives from the ministries of foreign affairs and interior, the General Intelligence Service, and the Administrative Control Authority.

Cabinet Spokesman Mohamed el-Homsani said the committee reviewed the status of liquefied natural gas (LNG) regasification vessels.

It was noted that the second regasification vessel, Energos Eskimo, had arrived at Ain Sokhna Port and was currently undergoing preparations to be relocated to SUMED Port by the end of the month, said the spokesman.

Once operational, the vessel will inject up to 750 million cubic feet of natural gas per day into the national grid, joining the first regasification unit, Höegh Galleon, which is already docked at SUMED Port, the spokesman added.

Preparations are also in progress to receive a third LNG regasification vessel, which is currently docked at Damietta Port on the Mediterranean, he added.

It is scheduled to begin operations and feed gas into the national grid in early July, bringing the total number of LNG regasification vessels to three, a move aimed at strengthening the country's energy security, the spokesman added.

Deputy premier Kamel el-Wazir highlighted the government’s substantial investments in developing diverse modes of public transportation, as well as its efforts to foster a culture of regular public transit use, beyond periods of crisis or spikes in fuel prices, the spokesman noted.

Wazir pointed to the rising public adoption of the newly launched Bus Rapid Transit (BRT) system and outlined efforts to localize the production of advanced public transportation vehicles, the spokesman added.

The minister of electricity reviewed the ongoing energy-saving measures and the progress in integrating renewable energy sources into the national power grid, the spokesman said.

The prime minister stressed the need to offer incentives that encourage citizens to adopt energy-efficient habits as part of a sustained national strategy, beyond periods of crisis, and to scale up the use of solar energy at the household level, he added.

The committee also reviewed the availability of essential goods and the status of strategic reserves. It was confirmed that Egypt maintains a safe and reassuring stockpile of key commodities sufficient for more than six months, the spokesman added.

Minister of Supply Sherif Farouq explained that the government is pursuing a multi-pronged approach that includes boosting commodity stocks, raising public awareness on responsible consumption, and enhancing market oversight. A series of measures is already being implemented to support these efforts, he said.

For his part, the minister of petroleum outlined global energy price scenarios, based on forecasts by leading international financial institutions.

These institutions project a potential rise in global energy prices amid the ongoing Iranian-Israeli conflict, which has already led to an uptick in crude oil prices in recent days, the minister said.

He outlined three possible scenarios for energy price impacts, low, moderate, and high escalation, based on the projected duration and potential regional expansion of the conflict, with a particular focus on crude oil markets. (MENA)
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