During a general assembly meeting of GASCO on Tuesday, the GASCO chairman, Yasser Salah El-Din, revealed that his company secured the needs of the electricity sector and other economic sectors. The exported quantities recorded an increase by 33% in 2022 compared to 2021.

Salah El-Din added that last year, the GASCO's National Advanced Transmission and Automation Center (NATA) examined about 269 kilometers of the pipelines of the national natural gas network.

Petroleum Minister, Tarek El-Molla, who attended the meeting, said his ministry attaches great importance to developing the main infrastructure, noting that this infrastructure was used to supply natural gas from the Eastern Mediterranean region to Europe to meet part of its needs.

According to a report issued September by the Cabinet’s Information and Decision Support Centre (IDSC), Egypt’s natural gas and liquified natural gas (LNG) export revenues reached $8 billion in the fiscal year 2021/2022, up from $0.6 billion in 2013/2014.

Egypt has quadrupled its exports of LNG and natural gas over the past eight years from 1.9 million tons to 7.2 million tons.

In the same period, Egypt signed 108 agreements with international companies to excavate gas and petrol with a minimum investment value of $22 billion.

Egypt’s production reached 69.2 billion cubic metres (bcm) in 2021/2022 compared to 41.6 bcm in 2015/2016, a growth rate of 66.3 percent, the report read.