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...
Egypt Energy
Chapter | Energy & Utilities from The Report: Egypt 2022
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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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.
Chapter | Energy & Utilities from The Report: Egypt 2020
Egypt’s energy sector has traditionally been defined by the country’s status as the largest oil producer outside of the Organisation of the...
With one of the biggest consumer markets in the region and robust fundamentals, Egypt is well placed to attract international investment and emerge from this difficult period in a strong position. Although the Covid-19 pandemic has caused considerable disruption, the government’s ongoing reform efforts have helped to mitigate the worst effects of the crisis.
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.
Egypt continues to strive, not just for energy independence, but to return to its status as a regional exporter. With oil and gas fields in the Gulf of Suez, the Mediterranean Sea and the Western Desert, the country has been a site of energy exploration since the early 20th century. With recent discoveries of major natural gas deposits as well as continued exploration announcements, a low-cost...