tag:blogger.com,1999:blog-6399730406480392183.post4602108500020092210..comments2024-03-27T11:18:34.222-03:00Comments on Viable Opposition: Egypt: How Critical is it to the world's energy markets?A Political Junkiehttp://www.blogger.com/profile/03342345936277964422noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6399730406480392183.post-821861117835818372011-02-11T08:49:47.361-04:002011-02-11T08:49:47.361-04:00Thanks for the detailed analysis, very interesting...Thanks for the detailed analysis, very interesting.<br />You should also mention that Egypt is exporting natural gas to Israel as well, an issue that continues to be faced with substantial criticism locally. Maybe you have heard about the recent sabotage of the valve station along the Arab pipeline that caused halting of gas exports to Israel and Jordan/Syria. Credible sources are pointing accusations to Palestinian militia groups (aka Hamas) for obvious reasons. <br />BP has also recently embarked on one of the biggest natural gas projects along the Mediterranean (the West Nile Delta Project), with anticipated investments to the tune of $9 billion. I think such investments by BP following the losses from the Gulf of Mexico incident reinforces the great potential of the project. Maybe you could help to shed more light on this project especially that it is the first to be developed after a major change in concession agreements with the Egyptian government.<br />BG (British Gas) also continues to be one of the major players in Egypt's gas industry producing about 40% of Egypt's gas.<br />I am not aware of any attempts for enhanced oil recovery (EOR) although it is the only logical solution to unlock Egypt's oil reserves (you can see that Egypt's oil reserves rose steadily during the past decade to reach circa 4.5 billion barrels, whilst oil production rates have conversely declined rapidly meaning that there is still significant amounts of oil not economically reachable at this time except if EOR is used).<br />Egypt is really blessed with natural resources, we hope that the new government will continue to develop the oil and gas industry in Egypt whilst ensuring a fair distribution of the returns of these resources to the population. <br />God BlessAnonymousnoreply@blogger.com