Natural Gas News – April 15, 2022

Natural Gas News – April 15, 2022

How Egypt Could Become A Critical Energy Hub

North African energy producer Egypt has an opportunity to become one of the most important energy hubs on earth. To begin with, it has become a focal point of European gas companies as the continent attempts to wean itself off Russian gas. At the same time, Cairo is attempting to take advantage of the global call for more clean energy. The Egyptian government is currently assessing its options to put in place a $40bn hydrogen strategy in 2022. The first steps towards this aggressive strategy are already receiving support from the European Bank for Reconstruction and Development (EBRD). The EBRD has signed an MOU with Egypt’s Ministry of Electricity and Renewable Energy and Ministry of Petroleum and Mineral Resources to set up framework to assess the potential of low-carbon hydrogen supply chains.… For more info go to https://bit.ly/3rrr8vf

Lockdowns Slow China Economy

China’s lockdowns to contain the country’s worst covid outbreak since early 2020 have battered the economy, stalling production in major cities like Shanghai, and halting spending by millions of people shut in their homes. The restrictions are intended to eradicate any trace of the virus in the community, but they’ve also pressured everything from manufacturing and trade to inflation and food prices. Premier Li Keqiang has repeatedly warned of risks to economic growth, telling local authorities earlier this week they should “add a sense of urgency” when implementing existing policies. The government is holding firm to its Covid Zero approach for now, a strategy economists say will push growth down to 5% this year, below the official target of around 5.5%.… For more info go to https://bit.ly/3uGYzfu