Egypt's gas gold rush
February's oil and gas conference in Cairo attracted firms from around the world for one simple reason: Egypt's gas sector is booming
Hot on the heels of the Zohr offshore gas field — the biggest in the Mediterranean — coming on stream in record time in December 2017, there are rumours of still greater reserves at another offshore field, Nour, scouted by Italy's Eni last summer. International oil companies (IOCs) continue announcing new finds, while Egypt used the conference and exhibition EGYPS to unveil a dozen exploration licences, its largest ever auction. Consultancy Wood Mackenzie calls it "Egypt's astonishing gas renaissance", estimating there is 61tn ft³ of gas reserves in existing fields with another 45tn ft³ waiting to be found. Egyptians are adjusting to the new reality of their country, once an energy backwater
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
