Minister of Petroleum and Mineral Resources Tarek El Molla has confirmed that the integration with which the petroleum sector works has achieved many distinguished results, the most important of which is attracting new investments and partnerships, especially in the activity of marketing petroleum products and natural gas, which is witnessing great expansion and development.

This came during the general assembly meeting of the Egyptian International Gas Technology Company (GASTEC) to approve the results of the work of 2023.

El Molla stated that the plan to diversify the services and the facilities provided by the state for the national project to convert cars to run on natural gas as fuel is bearing good results in increasing the converted cars and the quantities of natural gas used in the field of transportation and the associated economic and environmental benefits.

The Minister noted that increasing and doubling the number of cars converted to run on gas, as well as gas supply stations, brings added value to Egypt’s natural resources and reduces the pressure on liquid petroleum products by reducing the portion that is imported.

GASTEC’s Chairman Abdel Fattah Farahat reviewed the most important results of the year’s work, which was the establishment and operation of 39 new filling stations in various governorates of the Republic, bringing the total of the company’s stations by the end of 2023 to 352 stations spread across 26 governorates. These stations include four new integrated stations for supplying natural gas and liquid fuels bearing the logo (GASTEC- Eni)

The company increased its gas sales to approximately 576.4 million cubic meters during the year, capturing 43% of the total market. This represents the highest sales rate among all operating companies.

It also succeeded in converting more than 22,000 cars to run on natural gas during 2023, bringing the total number of cars converted through GASTEC from the start of activity until the end of 2023 to about 246,4 cars, with a total market share of 45.5%.

Regarding the activity of transporting compressed natural gas to industrial and tourist facilities that are far from the national natural gas network, it succeeded in transporting 6 million cubic meters using the latest technologies.