BP expects supplies of liquefied natural gas (LNG) to more than double by 2040, Regional President of North Africa Hesham Mekawy has said, Egypt Oil & Gas reports.
The company also forecasts LNG supplies to increase by around 40% over the next five years, Mekawy added.
The regional president’s statements came on the second day of the Mediterranean Offshore Conference and Exhibition (MOC 2018) on April 18th, during which BP outlined its vision for the future of energy in a session entitled “Egypt as a Regional Energy Hub”. Officials and heads of a number of international oil companies operating in Egypt also participated in the conference.
Mekawy’s speech, delivered on his behalf by President of BP Egypt Karim Alaa, confirmed that the company believes Egypt is on its way to becoming a regional energy hub due to its favorable industrial, geographic, human and technical assets. He stressed that BP is commited to use its expertise and investments to benefit the Egyptian plan through its strong and strategic partnership with the country’s government.