Egypt to Increase NatGas Production by 30% by 2019

25 May 2016   Egypt

Natural Gas Exports Riding high on a series of major discoveries and what appears to be renewed investor interest in Egypt’s energy sector, the Oil Ministry is now targeting a 30-percent increase in natural gas production by 2019. Egypt’s oil minister has announced a new plan to raise its natural gas production to 5.5-6 billion cubic feet per day (980 million to 1.1 billion barrels a day) by the end of 2019 in line with global demand forecasts. It’s an important goal for Egypt, which has become a net oil and gas importer since oil prices started to crash in mid-2014. But recent discoveries have revived Egypt’s energy status and should spur these ambitious goals along. Twelve natural gas fields in the North African country are undergoing development as part of a set of projects estimated to be worth US$33 billion. The Zohr gas field, discovered by the Italian […]

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