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With output from its Mediterranean gas heartland down 25% over the past year alone, Cairo is desperate to reverse the trend. It is going double-or-quits on its current bid round: almost ‘open’ acreage offshore the Nile Delta is now on offer.
Cairo is attempting to meet energy demand on several fronts, namely through bid rounds, the import of liquefied natural gas (LNG) and by opening up the market for private firms to import natural gas.
Egypt’s state gas firm EGAS this week announced that it is extending by two months the deadline for the bid round it originally launched on 24 February (MEES, 27 February). The new deadline is now 30 July, back from 31 May.
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