Egypt: gas to the rescue

A booming natural gas sector means a return to self-sufficiency and a chance to overcome some of Egypt's economic and social problems

The crews of liquefied natural gas carriers which deliver weekly cargoes to Egypt will soon be taking their last look at Ain Sokhna port on the Red Sea. This is where two floating storage and regasification units (FSRUs) are anchored. Over the past two years these have helped Egypt cope with severe shortages of its own natural gas, which in turn have led to domestic power cuts and significant disruption to industry. But now the picture is changing as huge new reserves of gas start to come on line. Egypt plans to halt imports by 2019. A proposal to install a third FSRU has been torn up, and talks are underway with LNG suppliers to phase out future orders as the country gradually reaches the p