Egypt emerges as regional hub for gas and power

Jan 06, 2003 01:00 AM

Natural gas is set to become the key driver of growth for the Egyptian economy, as major discoveries, particularly in offshore areas, have increased the country’s estimated gas reserves to 120 tcf.
Domestic demand is growing, particularly as power plants have switched to gas as a fuel, and building distribution infrastructure has become a top priority. Building on Egypt’s strategic location on the Mediterranean Sea, the government is also actively promoting new export options, including a pipeline to Jordan and beyond, and LNG trains to feed the booming European market.

A two-day conference scheduled to take place in January aims to increase international awareness as to Egypt’s potential in this important sector and identify new areas and incentives for investment.
It will also discuss strategies for capitalizing on Egypt’s gas reserves and building Egypt as a regional hub for gas and power. The event is held under the patronage of the Egyptian Ministry of Petroleum, Government officials and international business leaders with a special interest in Egypt, the Middle East and North Africa region will participate at this timely event in Cairo.

Key topics to be discussed include:
-- Maximising Egypt’s competitiveness in the Middle East,
-- Pricing policy and infrastructure in the domestic market,
-- Challenges in financing LNG and GTL projects,
-- Progress in gas export pipelines,
-- Risk and financing challenges for cross-border projects and
-- Restructuring Egypt’s power sector.