Egypt Increases Gas Production by 12.4%
Egypt has increased its gas production to 7.2 billion standard cubic feet per day (scf/d), an impressive 12.4% increase within the fiscal year 2019-20 (July-June).
Magdy Galal, CEO of the Egyptian Natural Gas Holding Company, stated that throughout the fiscal year, local consumption of gas reached 5.8 billion scf/d. Sixty percent of gas was directed to power generation, with 23% utilized by the industrial sector, 11% by the oil sector and six percent for household and transportation use.
Since Italy’s Eni discovered 30 trillion cubic feet (Tfc) of gas in Egypt’s Zohr field in 2015, the country has made significant steps forward on the path to gas self-sufficiency.
Additionally, Eni has discovered potential offshore gas in Egypt’s Great Nooros Area, bringing total estimated gas resources in the area to approximately four Tfc.
Egypt is currently undertaking new exploration initiatives and is expected to gain significant, long-term influence within the global gas market.