Egypt aims to increase gas daily exports to 1 bcf

Egypt aims to increase gas daily exports to 1 billion cubic feet (bcf), Minister of Petroleum and Mineral Resources Tarek el Molla said in an interview while stressing some challenges.

Molla told Sky News Arabia that Egypt’s current gas daily exports stand at 300-800 million cubic feet while the production is 72 bcf.

The minister however indicated that Egypt cannot export 1 bcf on daily basis at present given “the dramatic drops” in the prices of liquefied natural gas witnessed lately in parallel with the decline in oil prices.

Egypt is emerging as regional gas hub. The country discovered in 2015 the giant Zohr field, the largest ever in the region. The field has an estimated capacity of 30 trillion cubic feet of lean gas.