Egypt: business opportunities and gas market reform
January 27, 2016
An Awareness Session on the reform of the Egyptian gas market, organised by the Delegation of the European Union in Egypt, began in Heliopolis, Cairo on Wednesday 27 January. Changes in the regulation of the Egyptian gas market are expected, following the preliminary approval of a draft law on 28 October 2015.
According to European experts, Egypt is an growing gas exporter and is, increasingly, a transit country for energy from the Gulf countries. Egypt “has always been an LNG exporter” and “has been an important supplier to the EU” but “the increase in domestic demand forced it to divert most of its production to the domestic market”, according to a European Commission report (2015). The same report noted that: “in August (of the same year), the Italian company Eni announced the discovery in Egyptian waters of a ‘supergiant’ gas field that would be “the largest ever found in the Mediterranean”.
“The Awareness Session offers an important opportunity for Egyptian public and private stakeholders, gas industry players, and international investors in infrastructure and energy to receive first-hand information and guidance about the coming reform of Egypt’s gas market as well as about the business opportunities and challenges associated with it”, said the EU Delegation in Cairo.