Abstract:

Although having around 3.5 billion barrels of oil and 2.2 trillion m3 proved gas reserves, Egypt is facing with the crisis of meeting the demands of its domestic market. Mainly due to increasing in-country consumption volumes, Egypt has lost its position of being an energy exporter in 2014. In contrast to these negative strides, new offshore gas discoveries again can change all the scenarios, and so Egypt’s plans to be an exporter after 2020. In intercalary years, new discoveries in Egypt offshore increase the importance of Eastern Mediterranean resources. A plenty of reserve estimations and potential about the region’s hydrocarbon resources, development scenarios, gas export strategies, Israel, Cyprus and Lebanon’s situations have been declared here and there. However, questions of curiosity arise as: • What will be the actual export potential of Egypt? • Will it change all the gas balances in the region and European markets? • What are the chances of transporting Egypt gas to Europe via Turkey, if a solution through Cyprus is unachieved? Above questions will be subjected in this study. For starters, gas reserves, new discoveries and the fields to be developed, production-consumption-export potential estimations of Egypt will be analyzed. Analyses will yield evaluation of regional gas policies by including Turkey’s role in the future dynamics.

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