Andrew Watson advises oil and gas companies, telecoms and other clients on matters related to energy and infrastructure, including project development and finance. Andrew counsels sponsors, international banks and multinational companies throughout the world on complex project financings that include motorways, tunnels, high-speed rail, conventional and renewable power, liquefied natural gas (LNG) terminals, and crude oil pipelines. Read Andrew Watson's full bio.

Egypt has suffered from significant social and political unrest.  This resulted in a drop in oil and gas production levels at the same time as domestic energy consumption was rising.  Egypt was facing a serious energy crisis. The election of Abdel Fattah al-Sisi as president in June 2014 proved to be a turning point:

  • There has been a substantial reduction in the level of fuel subsidies.
  • Significant steps have been taken to repay debts owed to international oil and gas companies.
  • There is ongoing diversification of energy sources, with more renewable power projects and increasing imports of liquefied natural gas (LNG).

The future looks positive.  A number of agreements have recently been signed by international oil and gas companies and it seems Egypt is still a destination for international investment.

Read the full article in Oil & Gas Financial Journal.