12 Countries demand Egyptian natural gas

Egypt's Minister of Petroleum Sameh Fahmi said 12 countries are asking for importing Egyptian natural gas, noting the volume of these demands reached 60 billion cubic metres annually.

ÊÊÊ In statements Tuesday after a meeting with officials in the Holding Company for Gases, Fahmi said the political leadership's support for the oil sector, particularly during the official visits of friendly countries, was behind the signing of several agreements and provision of the funds necessary for the projects.

ÊÊÊ He said Jordan, Syria and Lebanon would lead countries receiving Egyptian gas exports via a pipeline whose first stage will be operated during the first quarter of next year.

ÊÊÊ Export to France and Spain will start in 24 months from now by tankers after liquefaction in the plants currently under consruction near offshore production spots in the Mediterranean Sea off the Delta coasts.

Meantime, The General Authority for Investment and Free Zones (GAFI) is studying offers by Egyptian, Italian and Singaporean investors to establish three natural gas investment projects according to the free zone system.

ÊÊÊ The three proposed projects are to be set up in Edco, Beheira governorate, and all their production will be exported to foreign markets.

ÊÊÊ The total investment for the projects will hit US $ 1.746 billion, 76 percent of which will be provided by Italian and Singaporean investors.

ÊÊÊ The announcement was made yesterday by GAFI chairman, Mohammed El-Ghamrawi at a meeting to review work in the free zones.