On Efficient Utilization of Egypt's Energy Resources: Oil and Natural Gas

Tarek Selim ()

MPRA Paper from University Library of Munich, Germany

Abstract: The focus of this research is analysis and forecast for Egypt's energy resources of oil and natural gas. Running a risk of an oil shortage in the near term, Egypt's strategic energy resource should shift from oil to natural gas. Given an international energy market with high price variations for oil and more stable regional prices for natural gas, an efficient production schedule for Egypt's oil and gas resources based on domestic energy consumption and subsequent export/import forecasts has been derived. The methodology utilized is based on optimal resource extraction rates whereby dynamic efficient production schedules conditional on the constraint of sustainable growth rates in consumption (Hartwick's rule) dictate future energy requirements. Detailed strategies for Egypt's energy sector have been proposed, accompanied by their expected impact on the economy, with the following major guidelines: (1) policy shift from oil to gas as the strategic resource, (2) reduction/removal of oil subsidy, (3) adoption of renewable resource technology, and (4) future investment requirements.

Keywords: Egypt; energy policy; oil and natural gas; petroleum; energy prices; energy forecast; energy demand-supply equilibrium; energy consumption; energy production; energy imports; energy exports; energy trade; sustainable energy usage; energy strategy; Hartwick model; dynamic optimization path (search for similar items in EconPapers)
JEL-codes: C13 C22 C61 F18 Q31 Q32 Q35 Q38 Q40 Q47 (search for similar items in EconPapers)
Date: 2007-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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