'Future of Energy in Egypt' conference to be held 17 February

Ahram Online , Sunday 1 Feb 2015

The day-long conference will address Egypt's growing energy crisis and attempt to find solutions appropriate to Egypt's developmental needs

The Egyptian Businessmen's Association (EBA) and state-run Al-Ahram will host a conference to discuss the country's mounting energy crisis later this month.

The conference, entitled "The Future of Energy in Egypt," will be held in the Marriott Hotel in Zamalek, under the patronage of President Abdel-Fattah El-Sisi, on 17 February at 9am.

The day-long conference will be attended by Minister of Electricity Mohamed Shaker and Minister of Petroleum Sherif Ismail and will tackle such issues as Egypt's national strategy for reforming energy subsidies and diversifying its energy sources in a series of workshops attended by international experts, conference organisers announced Sunday.

Egypt, which relies on natural gas for 90 percent of its electric power generation, has gone from being a net-exporter of gas to a net-importer in recent years, as exploration and production has failed to keep pace with rising domestic demand.

EBA head Hussein Sabbour stressed the importance of outlining a clear long-term strategy for meeting Egypt's energy needs in order to attract investors, notably at the much-publicised March economic conference.

Egypt is targeting a growth rate of over four percent in the current fiscal year ending June, and a rate of six percent by the 2018/19 fiscal year. 

Last year, the country began to implement what officials have described as a five year plan to phase out state subsidies on fuel in an effort to rein in a widening budget deficit.

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