The Minister of Petroleum and Mineral Resources, Tarek El Molla, suggested Export-Import Bank of the United States (EXIM) contribute to financing private sector entities that desire investing in Egypt’s natural gas field, in light of the East Mediterranean Gas Forum (EMGF)’s initiative.

The company collected seismic data that revealed natural gas reserves up to 20 trillion cubic feet, which will make it second to the Zohr mega field in production.

ONGC Videsh Ltd has canceled plans to establish a liquefied natural gas export facility worth $5 billion in Iran.