By: Ahmed Allam
Cairo – Mubasher: The head of Egyptian Natural Gas Holding (EGAS) Mohammed El-Masry on Thursday stated that he expects the most populous Arab country to become a gas exporter in 2019.
We will become a pure gas exporter in 2019 after reaching a self-sufficient supply following various new explorations, which will commence production soon, El-Masry said on the sidelines of the Egypt Petroleum Show (EGYPS).
In its 2020-2021 vision, Egypt seeks to benefit economically from all its available capabilities and natural resources, which in turn will transform the country into a regional hub for the trading of oil and gas.
On the same note, the minister of petroleum and mineral resources Tarek El-Molla stated that the energy sector’s strategy aims to become self-sufficient in terms of natural gas within two years.
This will achieve added value through the manufacture of petrochemicals as well as meeting contractual requirements for exports, he added.
Egypt’s gas production rose to 4.45 billion cubic feet per day in the fourth quarter of 2016, following the implementation of several programmes to develop its fields, which are at different stages of production, as well as add new fields to the grid.
The country’s petroleum ministry signed eight agreements with six global and Egyptian companies for the exploration of oil and natural gas in 2016.
Translated by: Nada Adel Sobhi
