Foreign demand for Egyptian gas
Egyptian Petroleum Minister Samih Fahmi recently disclosed that twelve states have made requests to import Egyptian natural gas, for a total volume of 60 billion cubic feet per year.
New finds had doubled the country’s proven gas reserves in only three years. Egyptian natural gas reserves now total 120 trillion cubic meters (4,200 trillion cubic feet), according to official figures.
Due to these major discoveries, the gas export market is expected to become a major source of hard currency revenues over the next decade and a major factor in future economic growth. — (Mena Report)
© 2001 Mena Report (www.menareport.com)