Egypt has endured a turbulent decade, with the Arab spring, the ensuing revolution and subsequent military coup testing the stability of the state. But the economic outlook is now more positive than at any point since the Mubarak regime was overthrown (MEES, 12 July) and the last few years in particular have seen a remarkably swift turnaround in fortunes.
Central to the rebound has been the resurgence of Egypt’s oil and gas sector, which has rejuvenated plans to become an oil and gas hub. These were abandoned at the start of the decade, but Oil Minister Tarek El Molla told MEES in November that due to its “position, excellent infrastructure and facilities,” Egypt holds the keys to unlocking the region’s hydrocarbon reserves, positioning itself as a major hub (MEES, 2 November 2018). (CONTINUED - 1261 WORDS)