Egypt’s oil and gas future has been looking bleak for years, as the impact of the Arab Spring, the emergence of a Muslim Brotherhood government and a military coup by current president Sisi brought the country’s economy to a standstill. But a much needed reshuffle of the economy, removal of subsidies on food and energy and the “luck” of a giant offshore natural gas discovery, Zohr, have changed the situation dramatically. After more than a decade of being a major energy importer, Egypt’s upstream and downstream sectors are flourishing as they never have before. The European Union, seen by most analysts as the only viable energy customer available to Egypt, is also showing an increased interest in the ongoing and future upstream oil and gas development projects in the North African nation. A visit by EU Energy Commissioner Miguel Arias Cañete highlights the interest of Brussels. The EU official […]