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The Ukraine Crisis and Egypt’s Potential to Be Energy Gateway to Europe

March 10, 2022
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The world is setting to turn their focus on renewables, due to the implosion of an energy crisis that came about as a result of the Russian invasion of Ukraine. Since Russia attacked Ukraine last week, the price for crude oil has twice soared as high as $US 105 a barrel. While it is difficult to exactly predict what could happen in the coming weeks, sanctions will impede Russia’s oil, natural gas, and coal exports, leading to a crisis in global energy markets. As crude prices have risen significantly, shifting the focus on how to reduce reliance on oil and gas, Egypt will need to make fundamental changes in its approaches to energy policy and address crucial questions of energy security. Egypt as the Energy Gateway to Europe Bolstered by its strategic location, and with overall gas production that has reached over seven billion cubic feet per day, Egypt can set to rise as the main interlocutor between Europe, Africa, and Asia in energy exports, and to position itself as an energy gateway for these three key continents.  Recently, Spokesperson for Egypt’s Ministry of Electricity and Renewable Energy, Ayman Hamza…


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