Egypt targets 5 billion cubic feet gas production in FY2017/18

Egypt plans to increase its natural gas production to five billion cubic feet per day from 4.35 billion within 2017-2018, said Petroleum Minister Tarek El-Molla on Monday.

In an interview on the sidelines of Middle East Investment 2016 Reuters Summit, El-Molla has added that Egypt’s daily gas consumption is estimated at 5.2 billion cubic feet, while production is worth 4.350 billion.

Egyptian government targets gas production ranging between five to 7.5 billion cubic feet in 2020-2021, according to new gas field, projects in North Alexandria, and gas wells contradictions.

Italian Eni Company for gas production has announced in August 2015 that it has achieved a great find to explore natural gas in the Mediterranean Sea.

The company expected that gas will help meet Egypt’s needs for decades to come.