Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that the positive results achieved from merging 3 natural gas delivery companies into one strong entity demonstrate the extent to which the vision of the Modernization Program in the petroleum sector, which was launched in 2016, succeeded to foresee the future and its challenges.
The new entity represented by the Modern Natural Gas Company (Modern Gas) was able to take part in major national projects in the New Alamein City and the Administrative Capital and other projects that require strong entities with strong capabilities, financial statements, and highly experienced and technically distinguished cadres.
During the meeting, held to review the executive position of the company’s natural gas delivery works and projects one year after its establishment, El Molla clarified that the current challenges imposed by the current circumstances require great flexibility in work through maximizing production capacities, rationalizing spending, achieving optimal utilization of assets and resorting to innovation. And then work hard to achieve the goals.
Meanwhile, Mohamed Hassan Qandil, Modern Gas Company’s Chairman, explained that the company has played an active role since its launch last year in implementing the national plan to deliver natural gas to homes and bakeries, with a percentage of up to 20% of the plan, in addition to delivering to the villages of the Hayah Karima (decent life) Initiative.
A year after its establishment, Modern Gas was able to deliver natural gas to 191,000 customers, and install about 207,000 prepaid meters, in the nine governorates in which it operates, including Cairo, Qalyubia, Sharqia, Marsa Matrouh, Ismailia, North and South Sinai, Sohag and Qena.