Egypt’s natural gas sector has achieved a major turnaround, with domestic production recording its first increase in three years this past August, according to Karim Badawi, the Minister of Petroleum and Mineral Resources. The positive development comes after years of challenges and is attributed to a new operational strategy, structural reforms, and incentive measures that have successfully restored investor confidence in the country’s energy sector.
Speaking at the Gas Exporting Countries Forum ministerial meeting in Doha, Badawi revealed that several major international energy companies, including Eni, Shell, bp, and TotalEnergies, have announced ambitious investment programs for natural gas exploration and development in Egypt over the next five years. The minister emphasized that the strategic Zohr gas field currently contributes approximately 23 percent of Egypt’s total natural gas production, underscoring its critical role in supporting the domestic market.
Badawi also highlighted Egypt’s efforts to strengthen its liquefied natural gas infrastructure through the addition of floating storage and regasification units in Ain Sokhna and Damietta, reinforcing the country’s position as a pivotal regional energy hub connecting Africa, the Middle East, and Europe.
Source: egyptoil-gas.com