The Arab Republic of Egypt is a country in North Africa, with the Sinai Peninsula forming a land bridge to Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean region, the Middle East and the Islamic world. Covering an area of about 1,000,000 square kilometers, Egypt is bordered by the Mediterranean Sea to the north, the Gaza Strip and Israel to the northeast, the Red Sea to the east,Sudan to the south and Libya to the west.
Egypt is one of the most populous countries in Africa and the Middle East. The great majority of its estimated 84 million people live near the banks of the Nile River, in an area of about 40,000 square kilometers where the only arable land is found.
The economy of Egypt is one of the most developed and diversified in the Middle East, with sectors such as tourism, agriculture, industry and service at almost equal production levels.
Egypt has an advanced energy industry based on, oil,natural gas, and hydro power. Oil and gas are produced in the western desert regions, the Gulf of Suez, the Nile Delta and the Mediterranean. In addition to its role as an oil and gas exporter, Egypt has strategic importance because of its operation of the Suez Canal and Sumed (Suez-Mediterranean) Pipeline. These are two routes for export of Persian Gulf oil and Suez Canal also for export of LNG.
Egypt's excess of natural gas will more than meet its domestic demand for many years to come. The Ministry of Petroleum and Mineral Resources has established expanding local gas utilization and the Egyptian petrochemical industry as its most significant strategic objectives. In 2009 about 30% of local gas production was exported most of which in the form of liquefied natural gas (LNG).
|National currency||Egyption Pound|
|Labor force (inhabitants)||31,548,080|
|GDP (current billion US$)||250.90|
|GDP per capita (current US$)||2,549.14|
|GDP growth (percentage)||5.31|
|Exports of Goods and Services (current billion US$)||47.45|
|Proven natural gas reserves (billion c.m.)||2,221|
|Natural gas marketed production (billion c.m.)||60.84|
|Pipeline exports (billion c.m.)||0.00|
|LNG exports (billion c.m.)||2.45|
|Domestic natural gas consumption (billion c.m.)||61.29|
Source:GECF Annual Statistical Bulletin