Renaissance plan: turnaround in Egypt’s gas sector signals promising future

Only Subscribers can read the full Article

Few countries have seen such a dramatic turn-around in any sector as Egypt has with its natural gas industry. Early last decade, Africa’s most populous nation was suffering from an acute energy shortage, forcing it to shut down its two LNG export terminals, and from 2015 import LNG through two floating storage and regasification units (FSRUs) at Ain Sukhna to meet growing domestic demand. Its economy was shackled to fuel subsidies that were costing billions annually and bankrupting the country. The government was failing to pay foreign gas operating companies a price that would encourage further investment. Furthermore, it owed all of them millions of dollars for gas that had been delivered to the state. This downward spiral into Egypt’s energy black hole exacerbated the private sector’s reluctance to invest and produce more desperately needed gas.

Subscription Benefits

Our three titles – LNG Business Review, Gas Matters and Gas Matters Today – tackle the biggest questions on global developments and major industry trends through a mixture of news, profiles and analysis.

LNG Business Review

LNG Business Review seeks to discover new truths about today’s LNG industry. It strives to widen market players’ scope of reference by actively engaging with events, offering new perspectives while challenging existing ones, and never shying away from being a platform for debate.

Gas Matters

Gas Matters digs deep into the stories of today, keeping the challenges of tomorrow in its sights. Weekly features and interviews, informed by unrivalled in-house expertise, offer a fresh perspective on events as well as thoughtful, intelligent analysis that dares to challenge the status quo.

Gas Matters Today

Gas Matters Today cuts through the bluster of online news and views to offer trustworthy, informed perspectives on major events shaping the gas and LNG industries. This daily news service provides unparalleled insight by drawing on the collective knowledge of in-house reporters, specialist contributors and extensive archive to go beyond the headlines, making it essential reading for gas industry professionals.

Did you know that your Internet Explorer Browser is out of date?

Your MS Internet Explorer browser is out of date, and will not be fully compatible with our website. For best browsing experience we recommend that you upgrade your IE browser to a more recent version or use an alternative, more recent browser.