Egypt Energy Articles & Analysis

Chapter | Energy from The Report: Egypt 2019

Aside from the member states of the Organisation of the Petroleum Exporting Coun¬tries, Egypt is Africa’s largest oil producer, as well as its third-largest producer of dry natural gas, according to the US Energy Information Administration. Despite the abundance of its natural resources, how¬ever, the country faced an energy crisis following the 2011 revolution, marked by frequent blackouts...

As Egypt is the most-populous Arab nation and third-most populous in Africa, population pressure is driving the nation’s economic agenda, with an estimated 3.5m young Egyptians entering the labour force by 2023. Recent years have seen an array of public initiatives aimed at encouraging private sector activity, but these remain hampered by a challenging economic backdrop and structural hurdles.

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Egypt is moving ahead with plans to transform its renewable energy capacity, spearheaded by the development of a major solar power station.

 

What measurable progress has the energy modernisation programme made thus far?

 

The energy sector is an important driver of Egypt’s socio-economic development, accounting for around 13% of GDP in 2017. Aside from the member states of the Organisation of the Petroleum Exporting Countries, Egypt is Africa’s largest oil producer, as well as its third-largest producer of dry natural gas, according to the US Energy Information...

 

Egypt has the potential to produce 53% of its electricity from renewable sources by 2030, according to a 2018 assessment from the International Renewable Energy Agency (IRENA). Egypt’s current energy strategy calls for input from renewables to generate 20% of power capacity by 2022, rising to 42% by 2035. IRENA’s more optimistic view can be...

 

Where do you see the greatest potential for future oil and gas exploration in Egypt?

 

According to the Minister of Petroleum and Mineral Resources, Tarek El Molla, foreign investment in oil and gas reached approximately $10bn in FY 2017/18, representing growth of 25% over investment received during the year prior, due mainly to spending on new gas fields in the Mediterranean Sea. El Molla asserted that the country is targeting...