{"id":625994,"date":"2018-08-28T03:41:19","date_gmt":"2018-08-28T03:41:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/28\/egyptian-citizens-are-footing-the-bill-for-egypts-energy-hub-ambitions\/"},"modified":"2018-08-28T03:41:19","modified_gmt":"2018-08-28T03:41:19","slug":"egyptian-citizens-are-footing-the-bill-for-egypts-energy-hub-ambitions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/28\/egyptian-citizens-are-footing-the-bill-for-egypts-energy-hub-ambitions\/","title":{"rendered":"Egyptian citizens are \u201cfooting the bill\u201d for Egypt\u2019s energy hub ambitions"},"content":{"rendered":"

<\/a> First they ignore you, then they laugh at you, then they fight you, then you win: <\/strong>Setting aside that Gandhi never uttered those words<\/a>: You know one of your pet economic policies is getting traction when the international business press does a drive-by on it. And so it is with Egypt\u2019s dream of emerging as the region\u2019s premier energy hub, where the natural-gas side of the model gets scrutiny this morning from the Wall Street Journal.<\/p>\n

The crux of the WSJ\u2019s argument: Egyptian citizens are \u201cfooting the bill\u201d for the country\u2019s bid to become an energy exporter. <\/strong>The paper writes that the Sisi administration has \u201ccoaxed\u201d major international oil companies to return to Egypt by paying them higher prices for natural gas and putting the burden of payment on consumers by raising electricity and gas prices. The strategy has attracted investment from the likes of Royal Dutch Shell, BP, and Eni, but some citizens are resentful: News of major hydrocarbon discoveries has come with rising costs of living.<\/p>\n

One tiny problem: <\/strong>Nowhere does the story mention that those rising prices to consumers (and industry, let\u2019s not forget) have come as the state phases-out ruinous energy subsidies that were (a) a key factor in our economic slump post-2011 and (b) disproportionately benefited not the poor, but rich folk whose energy-hungry businesses, SUVs and A\/Cs, et cetera, were all subsidized at the cost of spending on social welfare and infrastructure.<\/p>\n

But hey: Our energy dreams have made the front page (digital) of the Wall Street Journal, complete with a single-sentence kick in the pants to close it out from veteran analyst Robert Springborg, who has won attention in Egypt post-2011 for his views on the military\u2019s involvement in the economy. Go read In Egypt\u2019s Vision of Energy Independence, Egyptians Pay More<\/strong><\/a>.<\/strong><\/p>\n

Meanwhile:<\/p>\n

There wasn\u2019t a peep yesterday about Foreign Minister Sameh Shoukry and Egyptian intelligence chief Abbas Kamel,<\/strong> who were both due to have arrived in Addis Ababa for talks with Ethiopian Prime Minister Abiy Ahmed on the Grand Ethiopian Renaissance Dam (GERD). The biggest news of late out of Ethiopia of late: Ahmed has lined up USD 1 bn in direct budget support<\/a> from the World Bank and continues to make nice with China, where he will be meeting with top officials during a September 3-4 visit to Beijing. China is Ethiopia\u2019s largest trading partner and biggest foreign investor, according to Abiy\u2019s chief of staff<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

First they ignore you, then they laugh at you, then they fight you, then you win: Setting aside that Gandhi never uttered those words: You know one of your pet economic policies is getting traction when the international business press does a drive-by on it. And so it is with Egypt\u2019s dream of emerging as […]<\/p>\n","protected":false},"author":1,"featured_media":625995,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[72,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"096071d1-b2e2-4658-9a31-1d11ba45d767","order":"0","is_powered_by":true,"section_story_id":"defba8bb-e6f5-4a5d-8658-261753cebebf","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/8\/964.jpg","photo_position":"above","related_issue":[625991],"teaser":"","voice_url":""},"yoast_head":"\nEgyptian citizens are \u201cfooting the bill\u201d for Egypt\u2019s energy hub ambitions - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/08\/28\/egyptian-citizens-are-footing-the-bill-for-egypts-energy-hub-ambitions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptian citizens are \u201cfooting the bill\u201d for Egypt\u2019s energy hub ambitions\" \/>\n<meta property=\"og:description\" content=\"First they ignore you, then they laugh at you, then they fight you, then you win: Setting aside that Gandhi never uttered those words: You know one of your pet economic policies is getting traction when the international business press does a drive-by on it. 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An LNG carrier\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/312.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595030,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/15\/egypts-position-as-regional-gas-export-hub-for-east-med-gets-us-support\/","url_meta":{"origin":625994,"position":2},"title":"Egypt\u2019s position as regional gas export hub for East Med gets US support","author":"enterpriseam admin","date":"15 September 2019","format":false,"excerpt":"Egypt\u2019s position as regional gas export hub for East Med gets US support: US Deputy Energy Secretary Dan Brouillette met with Oil Minister Tarek El Molla on Thursday in Cairo to discuss moving forward with the US-Egypt Strategic Energy Dialogue \u2014 a bilateral cooperation initiative aimed at strengthening Egypt\u2019s energy\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/613.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":681006,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/01\/13\/egyptian-regasified-natural-gas-starts-heading-to-lebanon-and-syria\/","url_meta":{"origin":625994,"position":3},"title":"Egyptian-regasified natural gas starts heading to Lebanon and Syria","author":"enterpriseam admin","date":"13 January 2026","format":false,"excerpt":"This plays into Egypt\u2019s efforts to position itself as the premier energy hub in the eastern Mediterranean","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1102.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597819,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/06\/thailands-ptt-energy-resources-files-usd-1-bn-lawsuit-against-govt-over-emg\/","url_meta":{"origin":625994,"position":4},"title":"Thailand\u2019s PTT Energy Resources files USD 1 bn lawsuit against gov\u2019t over EMG","author":"enterpriseam admin","date":"6 May 2019","format":false,"excerpt":"EXCLUSIVE- Thailand\u2019s PTT Energy Resources has filed a USD 1 bn lawsuit against Egypt over EMG: Thai state-owned energy company PTT Energy Resources is seeking USD 1 bn in damages in a suit filed in the Administrative Court against the Egyptian government. PTT alleges that Egypt failed to meet gas\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/775.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595284,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/22\/doubts-cast-on-egypts-ability-to-meet-its-regional-gas-hub-ambitions\/","url_meta":{"origin":625994,"position":5},"title":"Doubts cast on Egypt\u2019s ability to meet its regional gas hub ambitions","author":"enterpriseam admin","date":"22 September 2019","format":false,"excerpt":"Egypt\u2019s existing natural gas infrastructure may not be sufficient to support our export ambitions, Egyptian LNG\u2019s (ELNG) senior optimization manager Tamer Abdelsalam told Houston\u2019s Gastech conference, according to Petroleum Economist. One of Egypt\u2019s two LNG export terminals, at Idku, will return to full capacity next month following years of operating\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/625994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=625994"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/625994\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/625991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/625995"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=625994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=625994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=625994"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=625994"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=625994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}