Egypt's petroleum minister: a man with a plan
Tarek el-Molla believes his country will be a major oil hub, and self-sufficient in natural gas
THE EGYPTIAN energy sector’s fall from promise to penury was swift. Just twelve years ago, two liquefied natural gas plants were about to come on stream – the Segas facility in Damietta and Egyptian LNG’s plant in Idku – each underpinned by several years of consistent, industry-leading success in the upstream that also brought plans for gasification of the local economy. But exploration dwindled, the discoveries ended, and the plants ran out of gas. Saboteurs killed off piped exports from Egypt to the Levant through Sinai. All the while, the energy needs of the Arab world’s most populous country soared, spurred by subsidised prices that drain the country’s budget. The 2011 revolution and the
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
