Egypt Energy Articles & Analysis

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Chapter | Energy from The Report: Egypt 2017

Egypt is one of Africa’s main oil and gas producers, but it is also the continent’s largest consumer of energy. Both oil and gas are found throughout the country in multiple onshore and offshore regions, including the Mediterranean Sea, which is emerging as a major new gas basin. Nevertheless, sourcing enough supply to meet demand is the sector’s central challenge, even as these discoveries...

While Egypt continues to face considerable economic challenges as it confronts the legacy of its recent political history, at the outset of 2017 the nation’s economic planners have reason for optimism.

In a bid to boost Egypt’s power generation capacity, government officials are looking to increase production from solar and other renewable energy sources.

Even amid a backdrop of low global commodity prices, new oil and gas discoveries are continuing to drive investment in Egypt’s hydrocarbons sector.

In spite of the global slowdown in capital spending by energy companies, Egypt’s upstream gas industry is attracting multi-billion-dollar investments as it looks to meet rising domestic demand. 

 

The announcement in 2014 that BP, one of the largest foreign investors in Egypt, plans to spend more than $12bn on its Egyptian operations over the next five years marks a significant reversal of fortunes for Egypt’s gas sector as well as for the country’s revenues.