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Egypt exports natural gas to Jordan, Spain, Britain, Italy
Egypt, Economics, 6/11/2001
Egypt has a confirmed reserve of crude oil and condensates of 3.8 billion barrels, expected to rise to 8.2 billion barrels in the coming year, Oil Minister Sameh Fahmy said.
The confirmed reserve of natural gas stands at 54.5 trillion cubic feet in addition to 78 trillion cubic feet of probable reserve, he said.
Speaking Saturday at a forum on energy and sustainable development, the Minister said Egypt's contribution to world gas markets was on the rise in the light of agreements signed recently.
Among agreements signed recently was an accord to export one billion cubic feet of natural gas daily to Jordan through a pipeline which will be built in 18 months.
Egypt also has agreements to export natural gas to Spain, Britain and Italy, either liquefied or through pipelines.
The Minister said that setting up a petrochemicals industry in Egypt aims at absorbing 100,000 young graduates in different specializations and realising an annual return of 7 billion dollars.
It is planned to build 14 complexes in the coming 20 years with investments totalling 10 billion dollars.
Minister of Electricity and Energy Ali Saidi said that the option to use nuclear energy for peaceful purposes was under consideration in future plans of the electricity sector.
On her part, Minister of State for Environment Affairs Nadia Makram Ebeid said a national plan is currently under implementation to concile develop projects related to environment protection.
So, the ministry cooperates with the electricity and petroleum sectors to upgrade sources of clean energy including transforming 50 public transport buses into gas-operated ones.
Previous Stories:
Egyptian-Jordanian nuclear cooperation activated
(6/7/2001)
Cairo, Amman sign gas line agreement
(6/6/2001)
Kuwait to buy from Egypt Amoun defense system
(6/6/2001)
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