Charles Ellinas
Egypt is determined to drive and manage its rapidly expanding energy sector and ensure that the new liberalised industry and systems are run on international standards, Egypt’s Petroleum Minister Tareq El Molla has said.
Speaking at the International Gas Union (IGU) Workshop in Cairo on April 19, El Molla said his department would put Egypt at the forefront of natural gas developments.
Since the discovery of the first gas-field Abu Madi in 1967, Egypt’s gas reserves have increased dramatically, particularly during the last two to three years, with the development of giant Zohr being the game-changer.
Egypt’s oil and gas sector is being developed on the basis of three key pillars, with corresponding action areas:
- Energy security: boosting and diversifying energy supply
- Financial sustainability: by addressing historic debts and reforming energy subsidies
- Sector governance: improving oil and gas sector governance
