In this interview with Zeina Yazigi from Asharq Business Bloomberg, Dr Carole Nakhle, CEO of Crystol Energy, discusses the role of Egypt in regional gas markets.
Some of the key points raised include:
- There is no immediate and, surely, no single alternative to Russian gas for Europe in the short term.
- Egypt’s gas exports to Europe are relatively small, especially when compared with Algeria.
- Still, Egyptian gas can support Europe’s quest to reduce its dependence on Russian gas.
- The discovery of Zohr field gave a much needed boost for Egyptian gas production and exports after the country experienced a peak in production in 2009.
- Egypt is best positioned to be a gas hub for the region, particularly for Eastern Mediterranean countries which lack the extensive infrastructure Egypt has.
- Egypt is the biggest market for natural gas in Africa and a continuous increase in domestic demand without an expansion in production will crowd out a share of exports.
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