EGYPT

 

Egypt’s Gas Crunch: Is A Quick Fix Possible?

 

Petroleum Minister Sharif Isma’il has publicly advocated paying higher prices for gas produced by IOCs in Egypt, while Prime Minister Hazim al-Biblawi hopes to cut energy subsidies. Quick action is needed to fix Egypt’s gas crunch, but the political obstacles remain high.

Egypt is admitting to the realities of its gas crunch by indicating it will pay higher prices to international oil companies (IOCs)...