Egypt to increase natural gas production to 5.5-6 bln cfd

 22 May 2016 - 15:31

Egypt to increase natural gas production to 5.5-6 bln cfd
 

DAMIETTA, Egypt: Egypt will increase its natural gas production to between 5.5 and 6 billion cubic feet per day by the end of 2019, Oil Minister Tarek El Molla said on Sunday, up from the current 3.9 bln cubic ft per day.

Egypt currently has 12 natural gas field development projects underway, worth a total of $33 billion in investment, he said.

Egypt is also looking to rent its third floating and storage regasification unit (FSRSU) by the second quarter of 2017, he added.

Reuters