Egypt: Determining the shape & pace of energy market
The global energy landscape is experiencing a huge transformation. Countries are exploring sustainable substitutes to current energy generation methods, diversifying their investments and pouring funds into the development of renewable technology.
Also, governments are putting energy security at the forefront of their agendas.
While this has meant efforts to diversify the energy mix away from fossil fuels and towards renewable energy, it has also driven countries to diversify the sources of their energy imports. This has placed Egypt in a good position to make a significant contribution to energy security regionally and globally.
" the energy sector is closely linked to managing fiscal deficits. In fact, in MENA Region, the countries with the largest fiscal deficits are also those with the highest levels of energy subsidies."