Posted 4/1/2024, 3:02:56 AM
Egypt Grapples with Energy Crisis as Gas Production Falls and Power Outages Return
- Egypt faces energy crisis due to declining gas output, rising import bills, and return of power shortages
- Financial bailouts provide short-term relief but don't address core energy problems
- Key gas field Zohr running below capacity; few new discoveries to replace output
- Conflicts in region hampering energy ties; overreliance on Israel for gas imports
- Egypt has potential for more gas production and renewable energy exports but progress slow
