Hopes for a New Energy Independency in Egypt Notes de l'Ifri
The recent discovery of the giant Zohr's gas field will drastically change the energy future of Egypt, which is today increasingly dependent on imports to meet its growing domestic demand.
The country can foresee a possible gas independency around 2019 and could even expect to export Liquefied Natural Gas again within the next decade. The field development will probably be very rapid as Egyptian authorities gave all the necessary guarantees, providing the operator Eni with a long term visibility. The state will be the sole customer and the gas price was negotiated for the whole contract period. The very long oil and gas history in Egypt can facilitate the development of a huge project such as Zohr thanks to the high skilled civil servants working in the different bodies in charge of the sector, especially when the Egyptian president Abdel Fattah al-Sissi considers energy security as a state priority.
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