Egypt's Gas Dream

2 hours ago, Marina Schwarz said:

Undersea gas fires Egypt's regional energy dreams

I seem to read more and more about Egypt's gas ambitions. Could it pull it off and become something like a second Qatar, perhaps?

Egypt would never be a second Qatar.

Qatar has less than 3 millions inhabitants and exports most of the gas production.

Egypt has 97 millions inhabitants with a 1.3 % annual growth rate of the population and oil and gas accounts for 90% electricity production in the country. A big share of the gas produced would be headed for the local consumption.

 

It's true that there is an increasing gas production in the Eastern Mediterranean (Cyprus, Israel, Egypt) and this gas could offer another source of gas for Europe. But the Eastern European gas producers would have to face a very competitive European market feed by Russia (NordStream, Turkstream), Azerbaidjan (TAP/TANAP), Algeria, Qatar (LNG), USA (LNG).

 

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38 minutes ago, Guillaume Albasini said:

Egypt would never be a second Qatar.

Qatar has less than 3 millions inhabitants and exports most of the gas production.

Egypt has 97 millions inhabitants with a 1.3 % annual growth rate of the population and oil and gas accounts for 90% electricity production in the country. A big share of the gas produced would be headed for the local consumption.

 

It's true that there is an increasing gas production in the Eastern Mediterranean (Cyprus, Israel, Egypt) and this gas could offer another source of gas for Europe. But the Eastern European gas producers would have to face a very competitive European market feed by Russia (NordStream, Turkstream), Azerbaidjan (TAP/TANAP), Algeria, Qatar (LNG), USA (LNG).

 

image.png.e65cc6a97741d46919be03ef3bfcf4eb.png

A little talked about agreement that seems to have happened between the Saudi's and Israel is allowing a link across the Red Sea, could the Saudi's be looking and pumping gas up to the Med?  

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On 11/20/2018 at 8:14 PM, DA? said:

A little talked about agreement that seems to have happened between the Saudi's and Israel is allowing a link across the Red Sea, could the Saudi's be looking and pumping gas up to the Med?  

did you mean to say "from"? Last I've checked there was a shortage of gas in Saudi.

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On 11/20/2018 at 10:14 AM, DA? said:

A little talked about agreement that seems to have happened between the Saudi's and Israel is allowing a link across the Red Sea, could the Saudi's be looking and pumping gas up to the Med?  

The Saudis haven't got any surplus gas, infact they are short of gas. Thats why they burn upto 1mbpd of oil to produce electricity. 

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What I would be watching right now is how the Israel deal for a pipeline to Europe/Greek/Cyprus to feed Israeli gas to Europe will chip away at Egypt's plans to become a major hub. For hedge funds, watch the sudden interest shift ...

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