Egypt Increases Gas Production to 6.9 bcf/d
Egypt's natural gas production increased by around 300 mmscf/d, reaching around 6.9 bcf/d.
Egypt's natural gas production increased by around 300 mmscf/d, reaching around 6.9 bcf/d.
The four shipments are offered through two separate tenders that will close on April 9.
Developing the national grid is an essential component in Egypt’s strategy to become a regional hub for natural gas
The LNG cargoes are offered in a tender that is set to close on March 18 in order to be awarded by March 21.
Private sector companies stopped applying for natural gas import licenses as Egypt’s natural gas production grew to 6.8 bcf/d achieving self-sufficiency with surplus of exports.
The loan agreement was signed on December 27, 2017 by Egypt and EBRD to grant EGAS a $200 million loan.
EGAS will launch an E&P bid round to search for natural gas in the West Mediterranean.
The Gas Regulatory Authority issued two licenses to EGAS to ship and distribute natural gas, and three licenses to GASCO to supply, deliver, and distribute natural gas.
Egypt’s Minister of Petroleum Tarek El Molla announced the winners of the bid rounds that were announced last year with EGPC and EGAS, on the sidelines of EGYPS 2019.
EGAS plans to drill 13 wells in Nile Delta and the Mediterranean Sea during FY 2019/20, with total investments exceeding $510 million.