Eni and BP have been the two drivers of Egypt’s gas renaissance over the last two years. Their two key mega-projects are costing $24bn. But Cairo will need a steady flow of such upstream investments if it is again to become a major gas exporter.

A veritable who’s who of energy ministers and IOC executives descended on Cairo this week to attend the 2nd annual Egypt Petroleum Show (EGYPS) as Egypt intensifies efforts to attract investment in its hydrocarbons industry. The country...