EGAS provided 2.1 trillion cubic feet of gas to local market in FY 2017/18

The Egyptian Natural Gas Holding Company (EGAS) provided 2.1 trillion cubic feet of gas to all local market economic sectors in FY 2017/18, leading to a 63% increase in the local consumption rate, according to a press release by the Ministry of Petroleum and Mineral Resources on Monday.

The Egyptian natural gas industry has recently witnessed significant progress, which is demonstrated by the increase in local gas production and in new major gas discoveries, said Minister of Petroleum and Mineral Resources Tarek El Molla at an EGAS general assembly meeting held to endorse a report on the budget of the previous fiscal year.

There has also been an increase in the amount of gas supply to mega power stations in the New Administrative Capital and other new urban areas across the state, the minister noted, adding that the industrial sector’s gas consumption constituted 22% of overall consumption.

The ministry gave priority to fulfilling the local market’s gas supply needs to drive up the economic development process and maximize the added value, a goal that the energy sector plays a principal role in, El Molla said.

The ministry has also been maximizing its efforts in the Household Natural Gas Connection Project that aims at increasing household access to reliable, low cost and grid connected natural gas supply in accordance with the directives of President Abdel-Fattah El-Sisi, the minister added.