Consequently, Egypt is eagerly trying to increase energy production with 36 new concession agreements during 2013/2014, seeking new variations in the energy mix, and rationalizing energy consumption to optimize available energy resources. The field is expected to have a major impact on the economic prosperity of the country, potentially offering Europe an alternative to energy resources and powering Egypt’s economic recovery. Gas production began in May 2017 and is expected to become fully on-stream in 2019, reaching up to almost 1.5 billion cubic feet a day (bcf/d), which is equivalent to about 30% of Egypt’s current gas production. Legislative reform has made the energy marketplace more investor-friendly in recent years, especially for the gas industry. Since 2014, the government began to formalize the development strategy of the energy sector introducing governance reform to encourage private sector participation, improvements in energy efficiency, and restructuring organizational economic pillars.

Source: Libya Today February 11, 2018 14:03 UTC