Throughout history, Egypt has had significant energy resources, both in traditional fossil fuels and in renewable energy, largely due to the abundance of underutilized land and year round sunshine within the country. Egypt’s strategic geographic location also provides potential for it to become among the most important gas producing nations in the world in the near future. After the discovery of the Zohr Well in 2015, an additional goal was set for Egypt to be self-sufficient for natural gas by 2020, and this goal is well on its way to being realized.
The next phase in the development of this sector concerns putting in place infrastructure which will facilitate transfer of the gasoline liquefaction plants located in Egypt, allowing the country to export the liquefied natural gas to Europe, which has long been Egypt’s target market.
To support this expansion plan, the government has also signed a memorandum of understanding with the European Energy Commission who will provide financial or technical support to allow Egypt to reach its mission of becoming an energy hub within the next four years.
In addition to exporting gas, international companies can invest in several frontier locations within the country such as the Red Sea, the western side of the Mediterranean on the northern coast, and the western side of the Nile delta off shore.