Egypt’s Petroleum Minister Tarek El-Molla (Photo: Al-Ahram)
Egypt’s natural gas output is expected to reach 8 billion cubic feet per day during the fiscal year 2019/2020, after the completion and operation of developmental gas field projects nationwide, the petroleum minister has said.
In a press statement released on Saturday, Petroleum Minister Tarek El Molla said that the forecasted “unprecedented production is a direct result to the successful strategy of the ministry anchored by political and economic stability in the country.”
He added that the success in security, the strategic needs of natural gas, and the accomplishments made in gas field discoveries and petroleum and gas production has contributed in sustaining the power supply to the local market and economic and production fields.
Saturday's figure comes a few months after officials said that the country’s natural gas output had risen to 6.6 billion cubic feet per day after an increase in production at its mammoth Zohr offshore gas field.
Egypt aims to become a regional gas hub for the trade of liquefied natural gas through major gas discoveries in recent years, including the Zohr gas field, which holds an estimated 30 trillion cubic feet of gas.
It has announced plans to start exporting gas in 2019 through output from other newly discovered gas fields.
Egypt said it achieved self-sufficiency in natural gas consumption in September last year due to the gradual increase in local production and the plan to develop major gas fields in the Mediterranean.