Egypt to overcome Energy Crisis in 5 Years – Minister

The Egyptian government seeks to overcome the country’s energy crisis within 5 years, oil minister Sherif Ismail stated.

By filling the gap between the supply and demand, Ismail intends to face the challenges of the energy crisis through encouraging more investments in searching and exploring fields and using the unusual resources.

The minister further referred to ongoing genuine steps towards producing the Shale gas in many areas, as well as accelerating works on natural gas fields’ development projects.

He noted that his country would start importing the liquefied natural gas cargoes needed for electricity stations within the first quarter of 2015, in addition to upgrading of the refineries, distribution and transportation infrastructure, petrochemicals industries, and enhancing the efficiency in energy use.

Moreover, Ismail mentioned that the ministry’s plan is based on transforming Egypt to an energy hub, restructuring the petroleum sector. He also stressed the major role played by the foreign partners in supporting the Egyptian petroleum industry.