Abu Qir bidding points to intense competition for gas reserves to feed domestic and export demand

The race for a stake in the Abu Qir gas field, plans for a second LNG train at Damietta and fresh investment from Italy show that Petroleum Minister Sameh Fahmy’s willingness to negotiate higher prices for gas sold locally has won Egypt renewed favour with IOCs – but the price to pay is a growing subsidies bill, writes Nadine Marroushi.