Editing Economy of Egypt (section)

=== Energy sector ===
{{Main|Energy in Egypt}}
==== Electricity ====
{{Main|Electricity sector in Egypt}}
[[File:Benban Solar Park.jpg|thumb|right|Benban Solar Park]]
Egypt suffered [[Power outage|blackouts]] during the summer of 2014 that lasted for up to six hours per day. A rapid series of reforms cut energy subsidies, and Egypt quickly developed the [[Zohr gas field]] in the Mediterranean, which was discovered in 2015. The country now has an oversupply of electricity and aims to source 20% of its electricity from [[Renewable energy|renewables]] by 2022 and 55% by 2050.<ref name="auto2"/> 

As part of its renewable energy strategy, Egypt has undertaken large-scale projects like the [[Benban Solar Park]] and the Gabal El Zeit wind farm. Benban, located near Aswan, has a total capacity of 1650 MW and generates about 3.8 TWh annually, making it the fourth-largest solar power plant globally. Additionally, the Gabal El Zeit wind farm, costing €340 million, spans 100 square kilometers with 300 turbines, generating 580 MW of electricity.<ref name="One">{{cite web |access-date=23 April 2018 |location=Beijing |author=Forum on China-Africa Cooperation |url=http://allafrica.com/stories/201804120269.html |title=Egypt: China's Green Energy Company Starts Construction of Biggest Solar Plant in Egypt |date=11 April 2018 |publisher=Forum on China-Africa Cooperation via [[AllAfrica.com]] |archive-date=24 April 2018 |archive-url=https://web.archive.org/web/20180424072329/http://allafrica.com/stories/201804120269.html |url-status=live }}</ref><ref>{{cite web|url=https://www.evwind.es/2018/07/23/middle-easts-largest-wind-farm-in-jabal-al-zeit/64021|title=Middle East’s largest wind farm in Jabal al-Zeit, Egypt - REVE News of the wind sector in Spain and in the world|publisher=}}</ref><ref>{{Cite web|title=The Egyptian winds, a clean energy source {{!}} EU Neighbours|url=https://www.euneighbours.eu/en/south/eu-in-action/stories/egyptian-winds-clean-energy-source|access-date=2021-11-14|website=www.euneighbours.eu|language=en}}</ref>

Egypt and Cyprus are considering implementing the proposed [[EuroAfrica Interconnector]] project.<ref name="EA">{{Cite web|url=https://www.euroafrica-interconnector.com/|title=EuroAfrica Interconnector|website=www.euroafrica-interconnector.com}}</ref><ref name="BLO">{{Cite news|date=8 February 2017|title=Electricity Cable Aims to Link Cyprus, Egypt, Greece|newspaper=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2017-02-08/electricity-cable-aims-to-link-cyprus-egypt-greece|via=www.bloomberg.com}}</ref><ref name="FM1">{{Cite web|date=8 February 2017|title=ENERGY: EuroAfrica 2,000MW cable boosts Egypt-Cyprus ties|url=https://www.financialmirror.com/2017/02/08/energy-euroafrica-2000mw-cable-boosts-egypt-cyprus-ties/}}</ref><ref name="DN">{{cite web|first=Mohamed|last=Farag|date=6 February 2017|title=EEHC, Euro Africa Company sign MoU to conduct a feasibility study to link Egypt, Cyprus, Greece|url=http://www.dailynewsegypt.com/2017/02/06/614506/|work=Daily News Egypt}}</ref><ref>{{Cite web|title=Euroafrica Interconnector &#124; ENERGYPRESS|url=https://energypress.eu/tag/euroafrica-interconnector/|website=energypress.eu}}</ref> This consists of laying a 2 GW [[high-voltage direct current|HVDC]] [[submarine power cable|undersea power cable]] between them and between Cyprus and Greece, thus connecting Egypt to the greater European power grid.<ref name ="FM1"/>  The interconnector will make Egypt an electricity hub between Europe and Africa.{{Citation needed|date=March 2024}}   The president of Egypt and the prime minister of Cyprus met in [[Nicosia]] on 21 November 2017 and showed their full support for the EuroAfrica Interconnector pointing out its importance for energy security of the three countries.<ref name="TRI">{{Cite web|last=Hazou|first=Elias|title=Energy, peace focus of Tripartite Summit (updated) &#124; Cyprus Mail|url=https://cyprus-mail.com/2017/11/21/energy-eu-relations-focus-tripartite-summit/|access-date=30 November 2020|archive-date=28 October 2020|archive-url=https://web.archive.org/web/20201028205308/http://cyprus-mail.com/2017/11/21/energy-eu-relations-focus-tripartite-summit/|url-status=dead}}</ref><ref name="DECL">{{Cite web|url=http://www.cyprus.gov.cy/moi/pio/pio2013.nsf/All/D5A706294139C3B3C22581DF004E38D7?Opendocument&L=E|title=Joint Declaration following the 5th Cyprus – Egypt – Greece Trilateral Summit, PIO Cyprus,Nicosia, 21 November 2017|access-date=5 February 2018|archive-date=4 February 2018|archive-url=https://web.archive.org/web/20180204123922/http://www.cyprus.gov.cy/moi/pio/pio2013.nsf/All/D5A706294139C3B3C22581DF004E38D7?Opendocument&L=E|url-status=dead}}</ref><ref name="PRE">{{Cite web|title=Egypt President El-Sisi fully endorses EuroAfrica Interconnector "electricity corridor" in historic meeting, Press release|url=http://www.euroafrica-interconnector.com/20171120_press.html|url-status=dead|archive-url=https://web.archive.org/web/20180204000429/http://www.euroafrica-interconnector.com/20171120_press.html|archive-date=4 February 2018|access-date=5 February 2018}}</ref><ref name="VID">{{Cite web|url=https://www.youtube.com/watch?v=VQejIbsce74| archive-url=https://ghostarchive.org/varchive/youtube/20211211/VQejIbsce74| archive-date=2021-12-11 | url-status=live|title=Leaders Al Sisi Anastasiades Tsipras Trilateral Summit 21 November 2017| date=23 November 2017|via=YouTube}}{{cbignore}}</ref>

On 29 October 2007, Egypt's president, Hosni Mubarak gave the go-ahead for building several [[nuclear power plant]]s, but this failed to take off under his leadership. On November 19, 2015 Egypt and Russia signed an initial agreement, under which Russia will build and finance Egypt’s first nuclear power plant. In December 2017 preliminary contracts for the construction of four [[VVER-1200]] units were signed in the presence of Egyptian President [[Abdel Fattah el-Sisi]] and Russian President [[Vladimir Putin]].<ref name=wnn-20171211>{{cite news |url=http://www.world-nuclear-news.org/NN-Notice-to-proceed-contracts-signed-for-El-Dabaa-1112178.html |title='Notice to proceed' contracts signed for El Dabaa |publisher=World Nuclear News |date=11 December 2017 |accessdate=12 December 2017}}</ref> The permit for unit 1 was issued by the Egyptian Nuclear and Radiological Regulatory Authority (ENRRA) in June 2022.<ref name="wnn-2022-06-30">{{cite news |url=https://www.world-nuclear-news.org/Articles/Construction-permit-issued-for-first-Egyptian-unit |title=Construction permit issued for first Egyptian unit |publisher=World Nuclear News |date=30 June 2022 |accessdate=8 July 2022}}</ref> First safety-related concrete was poured in July 2022.<ref name="wnn-2022-07-20">{{Cite news |url=https://www.world-nuclear-news.org/Articles/Construction-of-Egypts-first-nuclear-power-plant-u |title=Construction of Egypt's first nuclear power plant under way |publisher=World Nuclear News |date=20 July 2022 |accessdate=20 July 2022}}</ref> In October 2022, ENRRA gave construction approval for unit 2,<ref name=wnn-20221101>{{cite news |url=https://www.world-nuclear-news.org/Articles/Egypt-s-next-nuclear-reactor-gets-approval-for-con |title=Egypt's next nuclear reactor gets approval for construction |publisher=World Nuclear News |date=1 November 2022 |access-date=3 November 2022}}</ref> whose construction started on 19 November.<ref name=wnn-20221121>{{cite news |url=https://www.world-nuclear-news.org/Articles/Construction-begins-for-El-Dabaa-unit-2 |title=Construction begins for El Dabaa unit 2 |publisher=World Nuclear News |date=21 November 2022 |access-date=19 December 2022}}</ref>

==== Hydrocarbons ====
[[File:Egypt nat gas exports.png|thumb|Egypt's net natural gas exports.<ref>{{Cite web|url=https://www.eia.gov/international/?fips=eg|title=International - U.S. Energy Information Administration (EIA)|website=www.eia.gov}}</ref>]]
[[File:Egypt oil imports.png|thumb|Egypt's oil consumption is overtaking oil production.]]

The Egyptian government has long prioritized expanding the [[petrochemical industry]] and increasing natural gas exports. By 2009, 38% of locally produced natural gas was allocated for export. However, declining crude oil production, peaking at {{convert|941000|oilbbl/d|m3/d|abbr=on}} in 1993 before falling to {{convert|630000|oilbbl/d|abbr=on}} by 2008, led Egypt to shift focus toward natural gas. By 2008, gas production had reached 48.3 billion cubic meters, though rising domestic consumption turned Egypt into a net oil importer by 2008–2009.<ref>{{cite web|url=https://www.cia.gov/the-world-factbook/countries/egypt/|title=The World Factbook|access-date=4 March 2015}}</ref>

In 2014, Egypt prioritized domestic gas consumption over exports, significantly reducing international supply. The country also signed a 15-year agreement with Israel to import 7 billion cubic meters of gas annually from the Leviathan field.<ref>[https://www.wsj.com/articles/egypt-would-approve-bgs-israel-gas-deal-if-local-demand-is-met-1404751523] Wall Street Journal article in Egypt's gas</ref> A year later, BP announced a $12 billion investment in Egypt’s natural gas sector, primarily in the West Nile Delta project, which now produces nearly 1 billion cubic feet per day (bcf/d). BP also developed the Atoll field (300 million standard cubic feet per day) and the North Damietta concession, with production from the Qattameya discovery starting in 2020.<ref>{{Cite news|url=https://www.nytimes.com/2015/03/07/business/international/bp-signs-12-billion-deal-to-develop-natural-gas-in-egypt.html |archive-url=https://ghostarchive.org/archive/20220101/https://www.nytimes.com/2015/03/07/business/international/bp-signs-12-billion-deal-to-develop-natural-gas-in-egypt.html |archive-date=2022-01-01 |url-access=limited|title=BP Signs $12 Billion Deal to Develop Natural Gas in Egypt|first=Stanley|last=Reed|newspaper=The New York Times|date=6 March 2015}}{{cbignore}}</ref><ref>{{cite web | url=https://www.bp.com/en/global/corporate/what-we-do/bp-worldwide/bp-in-egypt.html | title=BP in Egypt | publisher=BP | access-date=28 February 2025 }}</ref>

The [[Zohr gas field]], discovered by [[Eni]] in 2015, remains the Mediterranean’s largest natural gas find, with estimated reserves of 30 trillion cubic feet. Production began in December 2017, reaching 2.7 bcf/d by August 2019.<ref>{{cite web | url=https://www.eni.com/en-IT/actions/global-activities/egypt/zohr.html | title=Zohr Gas Field – Egypt | publisher=Eni | access-date=28 February 2025 }}</ref> However, recent technical challenges have reduced Zohr’s output, leading to domestic supply constraints and increased reliance on imports. Egypt has secured agreements with Cyprus to import gas from the Cronos and Aphrodite fields, processing it in Idku and Damietta for LNG exports to Europe. Efforts to revitalize Zohr include new drilling plans to increase production by 220 million cubic feet per day.<ref>{{cite news | url=https://english.ahram.org.eg/NewsContent/50/1202/541105/AlAhram-Weekly/Economy/Tightening-the-deficit-on-gas.aspx | title=Tightening the Deficit on Gas | publisher=Al-Ahram Weekly | date=22 February 2024 | access-date=28 February 2025 }}</ref>