The Financial Times Energy companies pledge billions of dollars of Egypt investment Egypt and international companies announced plans for billions of dollars worth of investments in energy at a conference intended as a launch pad for the economy after four years of political and economic disarray. The bulk of the announcements at the gathering at the Red Sea resort of Sharm el-Sheikh were in upstream natural gas production and power generation. Both sectors have been largely starved of investment in recent years leading to the country's worst ever energy crisis. UK energy group BG said it would invest $4bn over two years and Italian group Eni said it had plans to invest $5bn over four to five years. BP had finalized an agreement to invest $12bn in its West Nile Delta concession. Production, due to start in 2017, is expected to meet a quarter of the country's energy needs. Read more: http://www.ft.com/intl/cms/s/0/a991f536-ca65-11e4-b16b-00144feab7de.html#axzz3UR8tZoom The Journal of Turkish Weekly Gaza police deny Egypt army firing at Palestinian sites The Interior Ministry in the Gaza Strip on Saturday refuted claims Egyptian army troops had opened fire on Palestinian sites near Egypt's border with the Palestinian territory. "It is untrue that the Egyptian army had opened fire on Palestinian National Security sites near the Egyptian-Palestinian border," The ministry said in a statement. "The shootings took place within Egyptian territories," the ministry said, stressing that "borders with Egypt remain stable and quiet." Read more: http://www.turkishweekly.net/news/181778/gaza-police-deny-egypt-army-firing-at-palestinian-sites.html Forbes Egypt's Richest Family To Invest $3 Billion In Energy Egyptian billionaire Naguib Sawiris has announced that his family will invest as much as $3 billion this year in his country's energy sector, according to the Associated Press. Sawiris said the $15 billion investment expectation was a bit ambitious, but expressed optimism that the country would raise the amount. "Of course it depends on the amount of investment we can collect – the plan calls for $15 billion a year in investments, and I believe it's doable," he said. "To give a ballpark figure, my family will provide this year, or at this conference, 20 percent of that figure, in the energy sector." Read more: http://www.forbes.com/sites/mfonobongnsehe/2015/03/14/egypts-richest-family-to-invest-3-billion-in-energy/
