Aiming to become self sufficient in gas by 2019; Egypt officially decides to stop liquified natural gas imports as recently confirmed by Petroleum Minister Tarek El Molla.
This step is reportedly going to save the country 3 Billion EGP, all thanks to The Zohr field, the largest natural gas field in the Mediterranean sea, where the total gas in place is estimated to be around 850 billion cubic meters!
Two months ago, on August 6, El Molla paid a visit to Port Said to monitor the ongoing progress in The Zohr field. Following his visit, El Molla confirmed an increase in the capacity of the field to 1.75 billion cubic meters, reaching 2 billion last month.
Additionally, he stressed on the importance of accelerating the whole project by pushing the implementation of its stages so Egypt would be self-sufficient in natural gas by the end of 2018.
To follow up and discuss the sufficiency target and the ongoing progress, El Molla previously met with the chairmen of Petrobel, Petrojet, Marine and Enppi; the oil companies involved in the project.
Zohr was discovered in 2015 by Eni and is expected to double Egypt’s gas reserves. Beginning output in December 2017, it is expected to turn Egypt into some sort of an energy hub.