Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt's Gas Exports Rise 98% to $3.89 Billion


Tue 31 May 2022 | 07:31 PM
Taarek Refaat

Data issued by the Egyptian Ministry of Petroleum, seen by "Reuters", revealed on Tuesday, that the value of Egypt's exports of natural gas and LNG during the first four months of 2022 increased by 98%, year-on-year, recording $3.892 billion.

According to the data, the value of Egypt's exports of natural gas increased during the year 2021 by 768.2% to reach $3.959 billion, compared to $456 million in 2020.

Minister of Petroleum Tarek El Molla, said earlier that Egypt's exports of natural and liquefied gas are expected to rise to 7.5 million tons by the end of the current fiscal year.

The minister added that it is planned to put 33 wells on the production map, adding 450 million cubic feet of gas and 17.2 thousand barrels of condensate during the next fiscal year.

El-Molla indicated that the total investment in R&D, including production in the gas sector in Egypt will exceed $1.6 billion dollars during the current and next two years.