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| ELNG in Idku. Egypt hopes its existing facilities can be used by other producers in the region. (BG Group) |
Egypt is looking to the UK as a model for its plans to become a regional energy hub, and bringing in trading companies will be vital to achieve this goal, according to Khaled Abu Bakr, executive chairman of the country’s largest gas distribution company, Taqa Arabia.
Abu Bakr told Interfax that North Sea success stories would be a good guide for the country, which has been producing gas to export around the world for decades but is now looking to become a more regional player.
With domestic gas and LNG imports being reprioritised for certain industries, including the power sector, the time is ripe for trading companies to enter Egypt’s gas market, which is slowly liberalising, and become the new middlemen between producers and customers.
