First gas consignment exported to Spain next December

Egypt's Minister of Petroleum Sameh Fahmy announced yesterday that Egypt will export, for the first time throughout history, the first natural gas consignment to Spain next December.

"Egypt has made tremendous progress in natural gas exports, despite the challenges of international competition," Fahmy said yesterday during his inspection tour of the Mubarak Gas Export Complex in Damietta.

The complex with an annual handling capacity of 7.5 billion cubic metres can produce 4.8 million tons of liquefied natural gas for export to Spain and Italy.

Total foreign investment in the petroleum sector rose to $ 2.7 million in 2003-2004, Fahmy added.

The Minister lauded the Egyptian oil and gas companies in these huge projects for the technical and technological know-how they will gain in addition to the job opportunities provided by these projects; not to mention the hard currencies Egypt gets.

The Minister was accompanied by Minister of Transport Essam Sharaf and Governor of Damietta Fathy al-Baradie besides a host of senior officials working in national and foreign gas companies.