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Published On: Mon, May 15th, 2017

Egypt poised to achieve self-sufficiency of natural gas by 2018

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nsnbc : Tarek Al-Molla, Egypt’sMinister of Oil, said Egypt is poised to achieve self-sufficiency in natural gas by the end of 2018. On Friday al-Molla said that over the past three years 21 projects have been implemented to develop and advance natural gas fields. He added that nine more projects are currently underway and will be implemented by 2019.

Orig.src_.Susanne.Posel_.Daily_.News-gas-HA-Sport-Petersdorf-600x400Al-Molla made his optimistic statement during a meeting with members of the American Chamber of Commerce in Egypt. He pointed out that the ministry is about to propose a new bill to the parliament pertaining to natural gas trade. The bill will suggests the involvement of private sectors in this trade as well, he added.

The Oil Minister noted that the discovery of the Zohr gas field in the Mediterranean and the production of ‘West Delta’ in North Alexandria have given a boost to Egypt’s production of natural gas and covering local markets needs. Egypt is currently negotiating with its suppliers of liquefied natural gas (LNG) in an attempt to postpone their shipments to Egypt because domestic production has increased significantly.

Egypt and its foreign partners have discovered several major gas fields in recent years. In March, British Petroleum made an additional gas discovery in the north of Damietta offshore concession in Egypt’s East Nile Delta. It also announced in 2016 the discovery of a new natural gas field in the Baltim South Development Lease in the east Nile Delta. Shell discovered 500 billion cubic feet of natural gas in the Western Desert in 2016. Zohr field that was discovered late 2015 was considered ‘super giant’.

F/AK – nsnbc 15.05.2017

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