Government seeks to transform Egypt into regional energy hub benefiting from sector growth - DAILY NEWS EGYPT

13.01.2019Ahmed Lamloum

The oil and gas sector has been a pillar to the Egyptian economy in the last few years, contributing about 15% to the GDP, especially after the 2011 uprising negatively affected the tourism and investment sectors, drying up foreign currency reserves.

The Executive Vice President of Operations at Egyptian Natural Gas Holding Company (EGAS), Magdy Galal, opened on Sunday the Egypt Energy Hub 2019 conference on behalf of Tarek El-Molla, the minster of petroleum and mineral resources, and delivered the opening speech.

Galal highlighted the importance of adopting the required technological elements that can give a real push to the energy sector.

He stressed the government’s keenness to transform Egypt into a regional oil and gas hub, benefiting from the recent discoveries in the Mediterranean and the Nile Delta.

Egypt to stop importing gas by end-2018: EGAS - DAILY NEWS EGYPT

Tuesday December 19, 2017

Ahmed Ismail

According to Vice President of the Egyptian Natural Gas Holding Company (EGAS) Magdy Galal, the company aims to stop importing liquefied natural gas from abroad by the end of next year.

According to Galal, the Ministry of Petroleum owns the bulk structure that qualifies Egypt to become a regional energy hub. It owns the Sumed pipeline which carries most of the Gulf’s oil to Europe, 9,500 km of crude oil and petroleum products transportation lines, eight refineries with a production capacity of 38m tonnes annually, and 15m tonnes of storage capacity for crude oil and products, in addition to 19 oil ports overlooking the Mediterranean Sea and the Gulf of Suez.

The infrastructure of natural gas transportation includes a main network with a total of 7,000 km, a distribution network with a total of 31,000 km, as well as 29 gas processing plants, two natural gas liquefaction plants in Damietta and Idku, and two floating units to receive liquefied gas with a capacity of about 1,300m cubic feet per day, in addition to the huge natural gas plants that were discovered in the Mediterranean Sea.