Egypt plans 17% increase in Israeli gas imports by January 2025
Updated 12/25/2024 8:11:00 AM
Arab Finance: Egypt’s Ministry of Petroleum and Mineral Resources has announced plans to increase natural gas imports from Israel by approximately 17% starting January 2025, an unnamed government official revealed to Al Arabiya Business.
This move is part of a broader strategy to secure energy supplies amid declining domestic gas production.
The source revealed that the Egyptian Natural Gas Holding Company (EGAS) aims to raise gas imports from Israel by an additional 170 million cubic feet per day.
Current flows, which peaked at one billion cubic feet per day last week, have since stabilized at 980 million cubic feet per day.
The new target of 1.15 billion cubic feet per day will integrate directly into Egypt’s national gas network.
Between July and December 2024, Egypt added over 300 million cubic feet of gas per day to its national grid through domestic development projects in gas fields and wells.
These efforts have helped offset production declines and meet market demands.
Despite these advancements, Egypt has experienced a significant drop in domestic gas production, with a decline of 20–25% over the past two years.
In response, the Ministry of Petroleum and Mineral Resources is intensifying efforts to bolster local output, planning to connect 465 million cubic feet of natural gas—sourced from deep-water fields and the Western Desert—to the national grid within three months.
Additionally, the ministry is collaborating with foreign partners to achieve a production increase of one billion cubic feet per day during the current fiscal year.
Egypt also continues to leverage external liquefied natural gas (LNG) contracts and regasification processes to meet local demand surges.
This strategy complements the country's reliance on imported Israeli gas, which first began in 2020 under a $15 billion agreement between Chevron (formerly Noble Energy), Delek Drilling, and Egypt’s Dolphinus Holdings.
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