Oil experts: World competition for purchasing Egyptian gas

Egypt is witnessing a leap in the production of the natural gas as the Egyptian reserves of natural gas raised from 36.5 trillion in 1999 to 60 trillion in 2003.

Minister of Petroleum Sameh Fahmi said natural gas liquefaction and export projects aimed at increasing hard currency revenues up to $ 600 million in 2006/7.

Egypt will export liquefied natural gas to European and US markets, he added.

Egypt plans to up it's natural gas exports revenues to $ 1.8 billion by the time all natural gas projects are complete, he added.