Egypt’s energy sector has traditionally been defined by the country’s status as the largest oil producer outside of the Organisation of the Petroleum Exporting Countries (OPEC) and the third-largest producer of dry natural gas on the Africa continent. Its control over the Suez Canal, meanwhile, places it at the centre of the global energy...
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...
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...
The 2015 discovery of the El Zohr gas field nearly doubled Egypt’s proven natural gas reserves. Given the scale of the domestic find, the inking of an agreement in 2018 for the Israeli company Delek Group to sell natural gas to Egypt’s Dolphinus Holdings was met with surprise on the part of some local industry observers. According to the terms...
Although the world remains largely dependent upon fossil fuels for power generation, a gradual transition towards renewable sources has been taking place since the 1990s, underpinned by multilateral deals such as the Kyoto Protocol, the Doha Amendment and, more recently, the Paris Agreement. Investment and development in renewable technologies...
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