Egypt Independent

Petroleum Minister: 100% increase in natural gas production by 2020



Egypt’s new natural gas projects will increase production by 50 percent in 2018, and 100 percent by 2020, Petroleum Minister Tariq al-Mulla said on Monday.

He added in a statement that Egypt’s natural gas production rose to about 5.1 billion cubic feet per day in 2017, from 4.4 billion cubic feet per day in the previous year, following British Petroleum’s (BP) first phase of their project in northern Alexandria.

The Zohr and Noras gas fields are of the most important projects that will lead to an increase in the production of natural gas and contribute to achieving self-sufficiency of natural gas by the end of 2018, Mulla said.

He added that Egypt is in talks with suppliers to postpone contracted shipments this year, as domestic gas production continues to increase from new discoveries, cutting demand for imported gas at higher costs.

The minister stressed that the new refining projects being constructed in the next four years with investments of about $3.8 billion will contribute to cover the shortage of the major petroleum products.

Mulla claims that the oil sector will be able to achieve maximum benefits in 2021 of all potentials and natural resources, and transform Egypt into a regional center for oil and gas trading.

 

Edited translation from Al-Masry Al-Youm