EGAS provides 2.1T cubic feet of gas to local market in 2017/18

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Mon, 17 Sep 2018 - 10:48 GMT

FILE PHOTO: A view shows Ras Lanuf Oil and Gas Company in Ras Lanuf, Libya, March 16, 2017. REUTERS/Esam Omran Al-Fetori/File Photo

FILE PHOTO: A view shows Ras Lanuf Oil and Gas Company in Ras Lanuf, Libya, March 16, 2017. REUTERS/Esam Omran Al-Fetori/File Photo

CAIRO - 17 September 2018: The Egyptian Natural Gas Holding Co. (EGAS) has provided 2.1 trillion cubic feet of gas to all local market economic sectors in FY 2017/18, leading to a 63% increase in the local consumption rate, according to a released press statement by the Ministry of Petroleum and Mineral Resources on Monday.

The Egyptian natural gas industry has recently witnessed a significant progress, which is demonstrated by the increase in local gas production and the new major gas discoveries, said Minister of Petroleum and Mineral Resources Tarek el Mulla at an EGAS general assembly meeting held to endorse a report on the budget of the previous fiscal year.

There has also been an increase in the amount of gas supply to mega power stations in the New Administrative Capital and other new urban areas across the state, the minister noted, adding that the industrial sector’s gas consumption constituted 22 percent of overall consumption.

The ministry gave priority to fulfilling the local market’s needs of gas supply to drive up the economic development process and maximize the added value, a goal which the energy sector plays a principal role in its achievement, Mulla said.

The ministry has also been maximizing its efforts in the Household Natural Gas Connection Project that aims at increasing household access to reliable, lower cost and grid connected natural gas supply in accordance with the directives of President Abdel Fattah El Sisi in this regard, the minister added.

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