“We are securing our gas and petroleum needs for the long term, and we have executable plans ready should the conflict continue or escalate,” Madbouly said at a press conference following the first meeting of a newly formed Crisis Committee.

Gas and petroleum production will increase starting in August. In the meantime, some industrial operations have been temporarily suspended to redirect energy toward priority sectors. The government says the affected factories will receive compensation and resume activity once the regasification ships come online.

Three regasification vessels will begin service by the end of June.

Madbouly also said Egypt currently holds the largest six-month reserve of key commodities on record and warned that rising global fuel prices could follow if the conflict drags on. Ministries are preparing sector-specific contingency plans.

A separate meeting will be held soon to review market prices and inflation controls. The government is also coordinating with the Central Bank of Egypt (CBE) to secure foreign currency for commodity imports.

Asked about recent electricity cuts, Madbouly denied the existence of a scheduled load-shedding programme and attributed outages to technical issues. He said the national grid is monitored daily and that maintenance teams address faults.

He called on state institutions to reduce electricity use and prioritize energy conservation.

The Grand Egyptian Museum (GEM), originally scheduled to open on 3 July, will be inaugurated in the last quarter of 2025. Officials cited the regional security situation as the reason for the delay.

During the cabinet meeting earlier in the day, the crisis committee—comprised of key ministers and security officials—discussed the potential fallout of the conflict, including commodity shortages and oil price hikes. A public campaign to encourage responsible energy use is also under consideration.

Madbouly reiterated Egypt’s official position in support of a two-state solution and the creation of a Palestinian state with East Jerusalem as its capital.