The total amount of natural and liquefied gas exports reached 3.5 million tonnes during the first half of current fiscal year, the minister added in a statement, meaning that Egypt’s natural gas exports will jump by roughly 4 million tonnes during the second half of 2021/2022 FY.

Earlier in December, El-Molla told Reuters that natural gas exports are at full capacity of about 1.6 billion cubic feet per day (bcf/d) from its two terminals, adding that the natural gas production is stable, currently ranging between 6.5 and 7 bcf/d.

Each 1 million tonnes of liquefied natural gas is equivalent to 48.7 bcf of gas.

Egypt's gas exploration plan for the fiscal year 2022/2023 is expected to add 450 million cubic feet to gas production per day and 17,200 barrels per day of condensates, El-Molla added in the statement.

The country's investments in gas exploration and production will exceed USD 1.6 billion in both the current and the coming fiscal year, the minister noted.

The growth in the natural gas sector came as a result of implementing a distinguished strategy, El-Molla said, stressing the vital role played by the natural gas sector in driving growth and development in the Egyptian economy.

El-Molla also attributed the ongoing interest and follow-up of the political leadership to the growth of this sector, pointing to the increase in gas production rates and the operation of Egyptian liquefaction and gas export factories at full capacity after the successful resumption of Damietta’s liquefaction plant, which led to a high volume of natural gas exports, according to the statement.

He explained that the natural gas sector is currently witnessing a development in all its activities, whether research, exploration, production and expansion projects in natural gas services to citizens, in addition to the financial, technological, digital aspects, energy efficiency and sustainability, the statement said.

El-Molla also clarified that natural gas has been delivered to 8 million housing units during the past eight years, compared to 5.5 million units over 34 years. Additionally, work is currently underway to connect natural gas to 1.2 million housing units annually, where it has been delivered to about 700,000 housing units out of the 1.2 million housing units targeted during the current fiscal year, he concluded in the statement.

After achieving its self-sufficient in natural gas in 2018, Egypt has planned to use its position on Europe’s doorstep to become a major supplier of LNG to the continent, which is transitioning away from other fossil fuels.

Egypt has the infrastructure for the transport and handling of natural gas, with a main network of 7,000km of pipelines, as well as a distribution network of 31,000km, and 29 gas-treatment plants in addition to the two LNG facilities, Idku and Damietta plants.