ADIPEC 2026: Egypt and Venezuela pitch themselves as routes and suppliers to global energy markets

Egypt and Venezuela used a ministerial session at ADIPEC 2026 to present themselves as links between energy resources and global markets, according to highlights published by the organisers.

The session, titled “Beyond borders: can national energy strategies deliver a connected global system?”, was part of the Strategic Conference on Day 2. The Stratawire did not attend; this report draws on the organisers' published highlights and cited background.

Egypt: a pathway for regional molecules

Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, said Egypt had been focused on keeping a proactive role. In remarks published by the organisers, he described it as “a partner in unlocking molecules from the Eastern Mediterranean and from Egypt itself”.

He added that Egypt aimed at “serving as an additional pathway for the region's molecules to reach the markets”, according to the same highlights.

Venezuela: supply and connection

Paula Henao Vera, Venezuela's Minister of People's Power for Hydrocarbons, said, according to the organisers: “Venezuela wants cooperation as a way to supply energy and to connect North and South America with global energy markets.”

Session context

Energy Connects, published by ADIPEC organiser dmg events, said the ministerial panel explored how national energy priorities can be aligned to support a more connected, resilient and secure global energy system. It highlighted the importance of greater international coordination across the energy value chain.

In the same report, Energy Connects quoted Badawi as saying the world needs more energy and that “No single country or company can do this alone.”

Background: Egypt's regional role

In a March interview with Energy Connects, Egypt's petroleum minister said Egypt sits at the crossroads of continents and occupies a key strategic position in the Eastern Mediterranean. The publication said the region holds an estimated 3.4 billion barrels of oil equivalent of recoverable resources and has potential to supply natural gas to Europe and nearby markets.

The same interview said the ministry was pursuing bilateral agreements with neighbouring producers, namely Cyprus. This would allow early-phase gas exports without new liquefaction plants, using subsea tie-ins to existing Egyptian fields or regional gas pipelines to reach ready liquefaction terminals.

The National reported in April 2025 that, under a deal with Cyprus, reserves from the island's Cronos field would be exported to Egypt, where existing infrastructure can process and ship liquefied natural gas to European markets. It said Eni and TotalEnergies agreed to send Cronos Block 6 gas to Egypt's Zohr facility before liquefaction at the Damietta plant in the Nile Delta.

Zawya, syndicating Arab Finance and citing Egypt's petroleum ministry, reported in June that Badawi said Egypt's position between the Mediterranean and Red Seas, and between Africa and the Middle East, reinforces its role as a regional energy hub.

Egypt also relies on imports. Zawya, citing Platts data from S&P Global Energy, reported in January that Egypt was expected to import about 11.14 million metric tons of LNG in 2026, up 26.3% from 9.01 million tons in 2025. It said domestic gas production has fallen for several years because of weak upstream investment, particularly at Zohr, which accounts for about one-third of output.

Offshore Magazine reported in August 2025 that the Leviathan partners would sell about 130 Bcm of gas to Egypt through 2040 or until contract quantities are fulfilled.

Background: Venezuela's investment push

The National reported on 3 November that Henao told delegates at ADIPEC that partial reform of the hydrocarbon law represented a “paradigm shift”. It quoted her as saying the new framework allows private participation in primary activities through production and exploration contracts and provides guarantees such as dispute resolution.

The National also quoted her as saying that “The main obstacles to large-scale investment continue to be sanctions”. It reported that Venezuela had signed 80 commercial agreements with international companies over the past year.

According to The National, citing Rystad Energy, Venezuela produces about 1.1 million bpd of crude, mostly exported to China and India, and more than 67 per cent of it is heavy crude. The National said Venezuela signed an energy agreement with TotalEnergies in September, with details undisclosed.

Chevron said in September that it and its Venezuelan partners had signed agreements updating joint-venture terms and expanding development rights in the Orinoco Belt. It said the joint ventures plan to invest more than US$7 billion over five years, more than doubling production to about 600,000 barrels a day compared with 2026.

The National reported in August that Abu Dhabi's XRG was awarded the Loran phase 2 offshore gas licence, which it said contains over 4 trillion cubic feet of proven gas resources and straddles the maritime boundary with Trinidad and Tobago.