EGAS aims to increase Egypt’s natural gas production by 3.2 bcf/d by mid-2022 to offset natural production decline and maintain total output at 7.5 bcf/d, an EGAS official told the local press. Egypt’s current production of natgas amounts to 7 bcf/day and is projected to rise to 7.5 bcf/d by the end of the current fiscal year in June, raising surplus production to 1.5 bcf/d.
More from Enterprise
AI in Egyptian banking is “in its infancy,” and the pause is deliberate
Bankers say the rules aren’t written yet. Data center builders…
Banks threaten to look beyond London as windfall tax talk grows
International lenders say more tax could tip the balance as…
EFG has three more IPOs lined up before year-end, including one hefty offering
Group CEO Karim Awad credits the central bank’s decision to…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…