GASTEC to Launch 366 Stations Worth $1 B in Three Years

GASTEC to Launch 366 Stations Worth $1 B in Three Years

The Chairman of Gastec company, Abdel Fattah Farahat, stated that the Minister of Petroleum and Mineral Resources, Tarek El Molla, directed towards expanding the establishment of natural gas stations by adding 366 stations at a cost of $1 billion to cover all needs of governorates in the next three years, Al Mal reported.

Farahat added that there are ongoing discussions with several petroleum companies to provide fueling services in remote areas, noting that the state is directing toward the conversion of more cars to run on natural gas to reduce fuel consumption and costs.

The Gastec’s Chairman said that they are also liaising with the car’s manufacturers about their readiness to contribute to the car conversion initiative, noting that both parties are expected to sign several protocols in the upcoming period.

Farahat mentioned that his company has converted more than 150,000 cars to run on natural gas during the last period.

In another conetxt, Farahat revealed that a feasibility study is being conducted in cooperation with Natural Gas Vehicles Company (Car Gas) and the Italian company Landi Renzo about producing the special components of conversion as well as the equipment of locally compressed natural gas (CNG) stations which are predicted to start production during H1 2021.




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