Natural gas is set to become the key driver of growth for the Egyptian economy, as major discoveries, particularly in offshore areas, have increased the country’s estimated gas reserves to 120 trillion cubic feet (Tcf).
Domestic demand is growing, particularly as power plants have switched to gas as a fuel, and building distribution infrastructure has become a top priority. Building on Egypt’s strategic location on the Mediterranean Sea, the government is also actively promoting new export options, including a pipeline to Jordan and beyond, and liquefied natural gas (LNG) trains to feed the booming European market.
A two-day conference scheduled to take place January 20-21, 2003, at the Semiramis Inter-Continental Hotel, Cairo, aims to increase international awareness as to Egypt’s potential in this important sector and identify new areas and incentives for investment.
It will also discuss strategies for capitalizing on Egypt’s gas reserves and building Egypt as a regional hub for gas and power. Organized by CWC Associates and Egypt’s International Economic Forum, the event is held under the patronage of the Egyptian Ministry of Petroleum,
Government officials and international business leaders with a special interest in Egypt, the Middle East and North Africa region will participate at this timely event in Cairo. Speakers include Egypt’s Minister of Petroleum Sameh Fahmy, Egyptian Natural Gas Holding Company Chairman Mohamed Tawila, BG Egypt Vice President Stuart Fysh, Oriental Petrochemicals CEO Hisham Raafat, Intergen Vice President and Country Executive Tomas Thomason, Edison International Egypt General Manager Igor Fabian, Gaz de France Vice President East Mediterranean and Middle East Phillipe Cassagne and Alstom Egypt President Gregor Stinner.
Key topics to be discussed include Maximising Egypt’s competitiveness in the Middle East,
Pricing Policy and infrastructure in the domestic market, Challenges in financing LNG and GTL projects, Progress in gas export pipelines, Risk and financing challenges for cross-border projects and Restructuring Egypt’s power sector. — (menareport.com)
© 2003 Mena Report (www.menareport.com )