European Union (EU) officials see Egypt as one of the alternative natural fuel suppliers to the European energy market after a sharp drop in supply from Russia on the backdrop of international sanctions. In the foreseeable future, Egypt could become one of the most important gas exporters to the EU. opens Words from Karem Mahmoud TASS, Director of the Egyptian Gas Market Regulatory Office.
One of the reasons for the increased fuel supply from Egypt to Europe may be the “advanced and attractive” energy infrastructure. In terms of equipment, it is one of the best in the Middle East and Mediterranean region. He also explained that the African country has an extensive gas transmission network.
“Europe sees Egypt as a huge market and wants this African country to become one of the EU’s most important gas exporters, especially after the end of the current conflict between Ukraine and Russia. <….> Mahmud said that Europe is interested in Egypt becoming an alternative source of gas supply to the EU to Russia.
European authorities have already allocated grants for the development of Egypt’s natural gas transport infrastructure. He concluded that this assistance was necessary to improve the production capacity of the sector.
December 19 reportedEgypt discovered a large gas field in the Nargis block in the eastern Mediterranean. The volume of the new well is initially 70 billion cubic meters of natural gas. In this way, the African country can become an energy center in the Eastern Mediterranean.