Page 98 - Benaa.Vol01

Interview
Egypt to Become the consumption has never exceeded of gold, steel, building materials like
cement and granite will usher in a
8% of the production costs and thus
Regional Hub for Energy moving the prices a little forward new phase of industrialization.
However, Abu Baker harshly criti-
should not add a lot to the final cost.
According to him, in China, Taiwan cized the new mining law which ac-
and Hong Kong energy is far costly
cording to him has not been able to
BENAA Huge al pricing system but those countries like the oil and gas exploration pro-
attract foreign or local investors. Un-
because it goes with the internation-
cess, mining exploration take a long
are still capable of striking a com-
time and more hectic efforts that
petitive edge globally. Moreover,
takes more than seven years and
big local consumers of energy like
investments
needs an extended area of work and
the cement, steel and fertilizers in-
plies along higher pricing system
amount of mining product. The law
in the oil dustries which get the energy sup- research that could yield a limited
have
still
should have taken such risk factors
EXPOT COUNCIL BUILDING, REFRACTORY & METALLURGY INDUSTRIES
into consideration by offering a 15-
been able to
year exploration license which will
challenge
Arabs Oil lines”
sector other global will transport cover the costs of miners. Fees im-
posed on environmental studies and
producers.
the Iraqi oil,
In general,
the use of raw materials should also
refine it in
Abu Baker Egypt and then be reduced. Therefore, the law should
believes that export it terminated for some be reviewed especially when it
the energy through the comes to the exploration of gold
The newly declared oil and gas findings in time with marked losses.
pricing sys- Egyptian ports which was overburdened with taxes,
Egypt will change the country’s economic tem is still The Egypt- Jordan and loyalties and arbitrary government
Iraq deal to enhance the trans-
portfolio and turns Cairo into a regional hub moderate port along what has been known as partnership. Meantime, the Mining
for energy, Tamer Abu Baker, Head of oil and and can hardly be decreased the “Arabs Oil lines” is also one of Authority should also focus on the
because of the varying rates of gas economic activities more that the ge-
minerals committee at Egypt Industrial Association, said. Abu Baker believes that production costs. The country is the major steps taken by officials at ological land mapping, increasing its
regional cooperation in the field of natural gas will enhance the economic also still exporting LNG which is the oil sector. According to Abu share of researches and studies of nat-
Baker that line will be used to trans-
development process. He hailed the recently signed agreement between the Ministry more costly than the one exporting port the Iraqi oil, refine it in Egypt ural resources, in addition to empow-
through land pipelines, he added. ering the research centers to highlight
of Oil and Mineral Resources and Cyprus to transport the liquefied gas through the The old gas pricing system led to a and then export it through the Egyp- the best possible means of using and
Egyptian marine facilities in Damietta and Edcko. The deal which will help ease the structural malfunction which forced tian ports… “Such development promoting these resources, Abu Bak-
will enhance the country’s regional
transporting process of the Cypriot gas to world market will also help Cairo become the government to put into considera- status as the center of energy gravi- er said. Citing international mining
tion the limited energy resources experts, Abu Baker believes that the
the regional center for energy. ty.”
needed by a country populated by 90 But fifty years ago many believed mining sector in Egypt has great po-
In an interview with this maga- tered as a site for exploration or hav- 4.4 billion cm after the new find- million individuals, Abu Baker said. that oil and gas will come to an end tentials and the country’s huge natu-
zine, Abu Baker said that several de- ing the possibility of gas resources. ings. Moreover, Abu Baker believes Therefore, he believes that the oil in the Middle East, which proved to ral resources will bring about great
cisions were taken to encourage in- But, the production process of gas that the pre- 2010 government al- sector should make better use of the be untrue as the new findings show revenues… “Despite of bureaucracy,
vestments and agreements in oil has been retreating due to the unset- lowed the exports of liquefied natu- current land and marine facilities to that these resources will be covering good number of international mining
exploration… “Almost 70 explora- tling political and security situation ral gas (LNG) which proved to be establish the country as the most lu- our needs of energy for forty more firms showed their interest in ventur-
tion deals were signed and more in Egypt. Most of the exploration unfruitful. Using the LNG is petro- crative regional energy center as years, Abu Baker said. Moreover, ing into the new horizons of the min-
than $23 billion are invested in the deals went to a complete halt in chemical industries will add a lot to echoed in the recent agreement with the mining sector in this country ing prospects in Egypt which is very
sector,” he said. Therefore, the oil 2011because the government could the country’s revenues and create Cyprus. This deal, according to him, will, according to him, play a lead- encouraging. Therefore, an industrial
sector has been among the most ac- not afford to pay the foreign part- badly needed job opportunities. has promoted the process of the two ing role in securing sustainable eco- strategy should be put into place that
tive economic players in this coun- ners’ dues and thus the country’s However, Abu Baker believes units of liquefying gas in Damietta nomic development. Exploration plan the country’s industrial develop-
try. The gas field “Zohr”, though production of gas went down from that local enterprises have not been and Edcko as a mean to facilitate the and industrialization f the mining re- ment until 2035 and the successive
exporting of Cyprus ‘Aphrodite’ gas
carries the same characteristics of 6.3 billion cm in 2010 to 3.8 billion overburdened by the increase in en- field. The activities of the two units at sources will become the cornerstone governments should be committed to
the Libyan soil, was hardly regis- cm before jumping up once again to ergy prices. He said that the energy of development. The huge amounts
the northern part of the country were it,” he said.
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