ENERGY

 

 

 

- 50% of foreign exchange receipts from the merchandise exports.

- 5% of GDP

- Oil and Gas industries account for the bulk of foreign investment in Egypt.

  

 

 

Petroleum

- The majority of the production of Egyptian oil is refined domestically.

- 79% of Egypt's oil comes from the Gulf of Suez and Sinai. Other areas include Western and Eastern Desert, the Red Sea, and Upper Egypt.

- The Egyptian General Petroleum Corporation (EGPC) controls the oil industry in Europe. It holds the sole right to import and export crude oil and other petroleum products.

- There are concerns that with increasing domestic demand for oil and maturing oil fields in the Gulf of Suez, Egypt will become a net importer of oil by 2005 to 2010. The Egyptian government is attempting to counter this by encouraging increased exploration, enhanced oil recovery, and an increase in the domestic consumption of gas.

Natural Gas

- Gradually replacing oil products in Egypt because of its cleanness and relative abundance.

- 90% of Egypt's thermal electricity is generated from natural gas.

- Domestic consumption has risen from 6 million tons in 1990 to around 13 million tons in 2001.

- The government is negotiating to export liquefied natural gas to increase growth of this sector.