Munich Personal RePEc Archive

On Efficient Utilization of Egypt's Energy Resources: Oil and Natural Gas

Selim, Tarek (2007): On Efficient Utilization of Egypt's Energy Resources: Oil and Natural Gas. Published in: Egyptian Center for Economic Studies, Working Paper Series No. 117 (January 2007)

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The focus of this research is analysis and forecast for Egypt's energy resources of oil and natural gas. Running a risk of an oil shortage in the near term, Egypt's strategic energy resource should shift from oil to natural gas. Given an international energy market with high price variations for oil and more stable regional prices for natural gas, an efficient production schedule for Egypt's oil and gas resources based on domestic energy consumption and subsequent export/import forecasts has been derived. The methodology utilized is based on optimal resource extraction rates whereby dynamic efficient production schedules conditional on the constraint of sustainable growth rates in consumption (Hartwick's rule) dictate future energy requirements. Detailed strategies for Egypt's energy sector have been proposed, accompanied by their expected impact on the economy, with the following major guidelines: (1) policy shift from oil to gas as the strategic resource, (2) reduction/removal of oil subsidy, (3) adoption of renewable resource technology, and (4) future investment requirements.

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