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Abstract
Traditionally the energy scetor has been important for Egypt’s economy. Macro-economically, it directly contributes to the country’s commodity exports, consumption, investment, government budget, and house-hold’s, firm’s and state’s budget. Moreover. privatization of energy production, distribution, and electricity generation offers great potential for both domestic and foreign firms. Because of major recent discoveries of gas deposit, natural gas production is likely to be the primary growth engine of egypt’s energy sector in the foressable future. Egypt’s natural gas sector has been expanding rapidly; production increased by over 350% between 1999 and 2008. In 2008, Egypt produced 58.9 billion cubic meters (bcm) and consumed 40.90 bcm of natural gas. Alos, according to BP statistical review of world energy (2009), Egypt’s estimated proven gas reserves amount to 2170 bcm, or roughly 1.2% of world reserves. With the possible exports to 18.00 bcm by 2008 from 1.30 bcm in 2004, Egypt is on its way to becoming a leading natural gas supplier in the Mediterranean region.