CAIRO Feb 12 Egypt has appointed Khaled Abdel
Badie as chairman of state-run Egyptian Natural Gas Holding
Company (EGAS), the oil ministry said on Wednesday, as the
country grapples with a looming energy crunch.
Badie, the vice-chairman of EGAS, replaces Taher
Abdelrahman. The statement, which announced a number of changes
in the leadership of state energy companies, did not list a
reason for the shake-up.
Abdelrahman was named head of Khalda Petroleum Company, a
joint venture owned by U.S. oil and gas producer Apache Corp
and state-run Egyptian General Petroleum Corp (EGPC).
Political turmoil since a popular uprising ousted autocrat
Hosni Mubarak in 2011 has paralysed decision-making in Egypt's
chaotic energy sector.
Tough decisions needed to resolve problems such as
ballooning fuel subsidies have largely been postponed.
The military-backed interim government, installed last year
after the overthrow of elected President Mohamed Mursi, says it
needs an additional $1 billion worth of petroleum products to
meet energy needs for the summer, when demand for
It also requires liquefied natural gas (LNG) for power
generation, in short supply due to declining local production,
even as Egypt cut into exports of LNG previously promised to
EGAS issued a tender in October for a floating terminal
needed to import LNG, saying that the government wanted it in
place by April, before temperatures rise and consumption spikes.
The tender has not yet been awarded, and experts say that
time has run out for a terminal to be delivered and installed
before the summer.