Egypt boosts gas output by 12.4% to record level in fiscal 2019-20: EGAS CEO

Highlights

Gas output rose to 7.2 billion scf/d in fiscal 2019-20

Egypt is continuing gas exploration activities

Local gas consumption at 5.8 bil scf/d in fiscal 2019-20

Dubai —
Egypt boosted its gas production by 12.4% on the year to a record 7.2 billion scf/d in the fiscal year 2019-20 (July-June) and is undertaking new exploration activities, the CEO of state-owned company EGAS said Sept. 20.

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Local consumption of gas in fiscal 2019-20, that ended June 30, reached 5.8 billion scf/d, with 60% of the commodity used to generate power, 23% in the industrial sector, 11% in the oil sector and 6% in households and cars, Magdy Galal said in a statement by the ministry of petroleum and mineral resources.

Egypt’s gas fortunes turned around in 2015 when Italy’s Eni discovered the 30 Tcf supergiant Zohr field in the Mediterranean, helping bring the North African country back to self-sufficiency in gas.

Longer-term, with Mediterranean countries taking growing quantities of LNG, it is expected Egypt could gain significant market influence.

Eni made a new gas discovery in shallow waters offshore Egypt in the Great Nooros Area, bringing total estimated gas in place for the area to more than 4 Tcf, the company said Sept. 16.