Egypt

Energy plays a significant role in the economy of Egypt. Hydrocarbon exports are one of the main sources of foreign currency inflows to the country. The upstream sector currently generates around 10% of domestic GDP. The country is facing the challenge of depleting oil production from mature fields and increasing domestic consumption. The government is attempting to counter this by increased exploration and enhanced oil recovery methods. The country’s natural gas production also increased rapidly in the recent years. Development in country’s natural gas reserves has led to a significant increase in its natural gas reserves, increasing its proven natural gas reserves by more than double over the last decade. Egypt has established itself as an emerging country in the natural gas export industry.

Egypt depends on various energy sources such as electricity, petroleum, natural gas, coal and hydro power. The government also plans to establish electronuclear stations that produce electricity through nuclear means.

Oil and natural gas are the major sources of energy consumption in the country together accounting for 93% of the energy consumed in 2009. Hydro accounted for 5.6% while coal accounted for 1.3% of the total energy consumed in the country.

 

(from GlobalData)