Egypt joins gas-exporting club
Egypt, Economics, 2/11/2002

The monthly report of the OAPEC esteemed Egypt in the first place as to discoveries of natural gas (seven discoveries out of seventeen for the OAPEC countries.

Moreover, according to international reports, Egypt ranked 18 among 102 all over the world as to the reserve of natural gas, and 13 as to gas exports.

Since early nineties, tremendous efforts have been exerted to transfer the northern coast into a basin for gas production, years have passed and the dream has come true through two projects, for exporting liquefied gas; the first is in collaboration with the Spanish Union Fenosa where it bought and liquefied the gas, to be used in its energy stations.

The second project is in collaboration with the British GB group in addition to the Italian Edison international.

Gas de France has for the first time shown interest in Egyptian markets the last year when it had 20 % from an exploration area north of Damietta controlled by Dutch shell group.

The French group has signed a strategic alliance with the general Egyptian institution for petroleum and the Egyptian holding company for natural gas in November.

According to primary indications, Egypt has reserve of 13 trillion cubic feet in West Delta; exploration works are going on in other wells.

There is a big concern of some countries about importing gas from Egypt, such as Spain, Italy, turkey and the USA.

Previous Stories:
  Mubarak follows up final touches on gas agreement with France   (2/9/2002)
  Consensus on Egypt's proposals at international gas exporting countries forum   (2/4/2002)
  Egypt Natural joins gas exports club   (2/2/2002)

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