Petroleum Minister Tariq al-Mulla said Friday that Egypt is exerting efforts to achieve self-sufficiency with natural gas by the end of this year, to stop importing liquefied gas.
Mulla said that Egypt has many opportunities that will support growth in gas production in the near and medium future.
He pointed to the development projects of gas fields, especially in the Mediterranean Sea, that are under way or planned for work in the near future. They include 16 projects with total investments estimated at over US$25 billion as well as projects that will be on production successively over the next four years.
Mulla said in a statement that over the past four years, the petroleum sector has succeeded in implementing 24 projects with a total investments worth US$16.2 billion, with a daily production of about 4.1 billion cubic feet of gas and about 36 thousand barrels of condensates.
Edited translation from Al-Masry Al-Youm