China Looks To Derail The West’s Strategy To Replace Russian Gas Supplies

China’s North Petroleum International Company (NPIC) last week signalled its intention to dramatically increase its presence in Egypt’s energy sector. An initial US$100 million is earmarked to acquire new concessions and establish partnerships in the gas and oil sectors of Egypt’s Western Desert and offshore areas, according to comments the firm’s regional director Sun Bao. This funding is only the opening salvo in a planned investment push from China into the strategically crucial country, a senior source in the European…