Egypt’s Ambitions to Become a Gas Hub Hindered by Mounting Debt Challenges

September 24, 2024/in /by Rudolf Huber

Egypt has quite a few stumbling blocks before it could consider itself a gas hub but its foreign debt would be the one thing that would worry me least – at least for a while. Egypt is not a very friendly place to do business. Anything you want to do in the country needs the buy-in of the armed forces which often is no bad thing but it makes sure that innovation and entrepreneurship stay firmly at bay. Egypt could be more than a regional hub if it wanted to. It was once the richest part of the Mediterranean. Having stable energy would help, so how about starting an underground gas storage site that equalizes its summer-winter swing before looking at bigger things?

Egypt's Ambitions to Become a Gas Hub Hindered by Mounting Debt Challenges | OilPrice.com

Rising domestic demand and falling gas production from its own fields forced Egypt to import gas from its neighbors.

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