BP to help ease Egyptian power crisis
Oil major will invest billions to boost gas supply to local market.
BP plans to invest heavily in Egypt over the next five years to help ease the country’s energy crisis.
Blackouts have become a common occurrence in Cairo and other cities in recent years due to the shortfall of feedstock to local power plants.
Plans are underway for a massive rollout of renewable energy in the coming years but that will not ease the power situation in the short term.
The British energy major will invest more than $12bn in Egypt over the next five years, and to double gas supplies to the local market in the next decade, the country manager of BP Egypt said on Tuesday according to Reuters.
"BP is committed to unlock Egypt's oil and gas potential and gradually double its gas supply during this decade”, Hesham Mekawi told an energy conference in Alexandria, referring to a project to develop the West Nile Delta.