Cyprus, Israel falling behind Egypt in energy prospects

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Cyprus, Israel falling behind Egypt in energy...
 © CyprusMail 2018
 

By Charles Ellinas

 

In the East Med, 2017 was a year during which Israel and Cyprus said a lot but achieved little, while Egypt said less but achieved most.

2017 was a good year for Egypt. It secured a $12 billion loan from the IMF, which led to floatation of the Egyptian pound, adoption of an energy sector reform programme – including liberalisation of the gas industry – and subsidy reductions. These reforms have already benefited the energy sector. Gas production has increased, with the giant 30 trillion cubic feet (tcf) Zohr gas-field...


This article was automatically added to our system 14-1-2018

Cyprus, Israel falling behind Egypt in energy prospects


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