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Egypt's gas reserves on the rise
Egypt, Economics, 2/12/2002
A top petroleum official said yesterday that recent discoveries of natural gas meant that Egypt's reserves increased from 36.5 trillion cubic feet in 1999 to 55 trillion by the end of 2001. There are also probable reserves of 65 trillion cubic feet.
Minister of Petroleum Sameh Fahmi yesterday told a press conference that Cairo will for the first time host the International Conference for the Natural Gas Industry for the Middle East and North Africa, which used to be organized in Europe. Fahmi added that the reason for holding the conference in Egypt is attributed to the recent local discoveries.
"Egypt's foreign partners that have concessions in the Mediterranean are using the latest technologies to prospect for oil and natural gas, helping the country rise to number 10 on the list of countries with natural gas reserves. Exporting natural gas is of national importance and the government is working hard to increase the exports," pointed out Fahmi.
Previous Stories:
Egypt joins gas-exporting club
(2/11/2002)
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(2/11/2002)
Mubarak follows up final touches on gas agreement with France
(2/9/2002)
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