Egypt’s Petroleum Ministry says natural gas production will get 7.2 billion cubic feet per day in the 2021-2022 fiscal year. This is a 9 per cent increase from the predicted amount in 2020.
The country’s production of natural gas reached 6.550 billion cubic feet per day in 2019-2020.
It’s recent boom in gas production has the field in the Mediterranean, the discoveries in northern Alexandria and the Nile Delta to thank.
The country aspires to become a major hub for gas trade and distribution in the Northern Africa region after demarcating its maritime borders with some eastern Mediterranean countries.
It aims to complete drilling ten natural gas wells in the Delta, and the Mediterranean regions, while preparing to drill nine others.
Minister of Petroleum and Mineral Resources, Tarek El Molla noted that the remarkable development in the natural gas sector is an important part of the goals to transform Egypt into a regional energy hub, grants the country a competitive advantage.
It also enhances the positive outlook of Egypt’s petroleum strategy, which contributes to the influx of new international companies for the first time in the fields of research, exploration and production, he added.
The natural gas sector is important in the new cities under construction, such as the New Administrative Capital and New Alamein, through the main gas networks that will supply the populations and industrial areas with clean energy needs and contribute to providing services.
El Molla pointed out that the recent success in settling arbitration cases with international companies confirmed Egypt’s credibility in the oil and gas sector and represented a new stage of zero-debt in this field.