Egypt to replace Saudi Arabia as world leader in petrochemical output
The Egyptian minister of petroleum, Sameh Fahmi, recently disclosed a newly adopted government strategy consisting of building 14 petrochemicals production complexes along with 50 petrochemicals manufacturing facilities. The London-based Al-Sharq Al-Awsat daily conveyed that according to Fahmi, by the time the project is completed, Egypt will lead the world in petrochemical output.
He added that currently, Saudi Arabia is the top petrochemicals manufacturer in the world in terms of price and quality.
Egypt’s confirmed natural gas reserves presently stand at 53.5 trillion cubic feet. The estimated natural gas reserves amount to 69 trillion cubic feet. –(MENA Report)
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