(Reuters) Maggie Fick - Successive Egyptian governments have failed to develop a sound strategy to tap major natural gas reserves even as an exploding population boosted demand. Egyptian gas exports more than halved from 2008 to 2012 and have now slowed to a trickle. Production from maturing gas fields is declining, and the government forecast this month that consumption will outstrip output starting in July. Gulf Arab donors have propped up Egypt with aid including oil, but their diesel is not compatible with Egypt's gas-based power plants and big factories. Qatar bailed out Egypt with extra gas during Morsi's rule, but his ouster badly soured Qatar's ties with Cairo.
2014-02-18 00:00:00Full ArticleBACK Visit the Daily Alert Archive