Egypt Energy

Chapter | Energy & Utilities from The Report: Egypt 2022

Egypt has turned its oil and gas industry around in the years since 2015: heavy investment in this industry now places Egypt in an advantageous position to capitalise on the resurgence of global travel and economic activity. The opening of new transport routes for hydrocarbons will help the country become a global energy centre connecting Europe, MENA and Asia. In addition to redeveloping its...

Located at the geographic centre of the MENA region, Egypt has a well-documented history that has seen it accumulate knowledge and wealth over millennia. Egypt proved resilient during the Covid-19 pandemic: it was the only country in the MENA region to record positive GDP growth in 2020. Its economy has been widely driven by the execution of Egypt Vision 2030. This plan notably aims to increase annual GDP to 12% in 2030.

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As environmental, social and governance concerns become increasingly important in the corporate world, insurance companies are emerging as potentially key players in the shift away from fossil fuel-powered projects. The launch of the UN-convened Net-Zero Insurance Alliance (NZIA) in July 2021 reflects the global industry’s wider recognition of climate risks.

Alongside a rapidly expanding renewable energy segment, Egypt is looking to adopt hydrogen technology to further diversify the energy mix. The construction of green hydrogen facilities will support the government’s plan to establish Egypt as global energy leader in line with Egypt Vision 2030. The International Energy Agency believes that hydrogen will be an integral part of a...

In the years since 2015, when gas production was low and Egypt had to rely on imports to meet its needs, the government has implemented policies to boost oil and gas output at home. The 2017 Law for Gas Market Activities Regulation helped the authorities attract greater international investment in the offshore segment, and this was further supported by the establishment of the...

Egypt’s energy sector proved largely resilient to the initial impact of the Covid-19 pandemic, when demand for fuel and feedstock dropped amid lockdowns and travel restrictions. Heavy investment in the industry, new oil and gas discoveries, and a strong refining industry now place Egypt in an advantageous position to capitalise on the resurgence of global travel and economic...

Located at the geographic centre of the MENA region, Egypt has a well-documented history that has seen it accumulate knowledge and wealth over millennia. Egypt proved resilient during the Covid-19 pandemic: it was the only country in the MENA region to record positive GDP growth in 2020. Its economy has been widely driven by the execution of Egypt Vision 2030. This plan notably aims to increase annual GDP to 12% in 2030.

As environmental, social and governance concerns become increasingly important in the corporate world, insurance companies are emerging as potentially key players in the shift away from fossil fuel-powered projects.

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