Egypt aims for 8% increase in natural gas production in FY2024/25
Updated 5/7/2024 9:08:00 AM
Arab Finance: The Egyptian government aims to boost its natural gas production by about 8% in the next fiscal year (FY) 2024/2025 to an average of 5.7 billion cubic feet per day, compared to 5.3 billion cubic feet per day currently, an unnamed government official told Asharq Business.
The anticipated rise in natural gas production is poised to stem from the commencement of operations in new deep-water fields in the western Delta by Shell and Petronas, boasting a daily production capacity of 200 million cubic feet, according to the source.
The official added that this surge will also encompass contributions from fields under the purview of Eni and Chevron.
Relevant government authorities seek to counteract the natural decline observed in current fields through these endeavors, the official noted.
In April, it was reported that the Egyptian Natural Gas Holding Company (EGAS) bought at least one shipment of liquefied natural gas (LNG) for delivery in May, and is seeking several more.
Related News
