Egypt permits private sector to import natural gas

Egypt has given the private sector a green light to import natural gas or liquefied natural gas (LNG), a government official said, a step that could encourage private investment in the energy sector while easing energy shortages.

Declining energy production, held back by a lack of investment, has helped turn Egypt from an energy exporter to a net importer over the past few years and contributed to a persistent energy crisis.

Egypt has tried to address energy shortages by signing a raft of LNG import deals this year, but allowing the private sector to import gas as well could further boost supplies of gas, which is used to power most Egyptian homes and factories.