5 new gas finds in Med., Delta

5 new gas finds in Med., Delta
5 new gas finds in Med., Delta

Arabnews24.ca:Wednesday 28 September 2022 10:58 AM: Five new discoveries of natural gas have been made in the Mediterranean Sea and the Nile Delta with total reserves of 317 billion cubic feet, said Egyptian Natural Gas Holding Company (EGAS) executive managing director Magdy Galal.

In statements on Wednesday during the general assembly meeting of EGAS, which was held to approve the company’s financial results for fiscal year 2021-2022, Galal spoke of a 44 per cent increase in gas exports.

Eighty-four shipments of liquefied natural gas were exported from liquefaction plants in Idku and Damietta, Galal added.

The Mediterranean accounts for the largest share of natural gas production in Egypt at 62 per cent, followed by Nile Delta at 19 per cent, and the Western Desert, 18 per cent, produced by 20 companies, including Petrobel, Khalda, PHPC, Bapetco and Burullus and international companies working in Egypt (Eni, Apache, BP and Shell).

Thanks to several discoveries at Nooros and Zohr, the largest in the Mediterranean, Egypt is self-sufficient in natural gas.

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