Egypt's Ministry of Petroleum and Mineral Resources said Thursday that about 17,125 cars were converted to work with dual fuel sources (petrol/natural gas) and some 192 million cubic metres of natural gas were sold for dual-fuel vehicles during the period from July to October.
Minister of Petroleum Tarek Al-Mulla reviewed a report on efforts to expand the usage of natural gas which revealed unprecedented rates in both the number of converted cars and natural gas sales for cars.
The report noted that natural gas companies are implementing an urgent programme to increase the number of gas supply stations across the country, adding that two new stations were opened in September and two others are being finalised in November, in addition to four other stations expected to become operational at the beginning of next year.
The report pointed out that a plan has been prepared by the committee formed by the prime minister to convert, during three years starting January 2020, about 147,000 new taxis to work with natural gas at a rate of 50,000 cars annually, in addition to the establishment of 366 stations to supply these cars.
The report noted that Egypt's Micro, Small and Medium-sized Enterprises Development Agency (MSMEDA) took up the financing of converting these cars with a total fund of about EGP 1.2 billion, as well as signing financing contracts with the companies Gaztec and Cargas worth EGP 80 million, as a first tranche to start implementation of the project.
The Central Bank of Egypt (CBE) allocated EGP 6.7 billion to finance the plan of establishing natural gas supply stations and the necessary procedures to disburse the first tranche are underway through the National Bank of Egypt, the report added.