Power Sector Consumes 70% of Egypt's gas

Egypt allocated close to 70 percent of its gas production to meet the demand of power plants to generate electricity, oil minister Tarek El-Molla stated Thursday.

Cairo is focusing on using more renewable energy sources to reduce reliance on natural gas, Amwal Al Ghad quoted El-Molla as saying.

The minister further stated that recent discoveries would help Egypt reduce gas imports and by 2022 the country is expected to self-sufficient. Currently the North African nation has been meeting domestic gas demand by importing LNG from various sources. The government has signed multiple deals with many leading LNG suppliers. 

In August Eni made a “world class supergiant gas discovery” at its Zohr prospect, in the deep waters of Egypt. The discovery could hold a potential of 30 trillion cubic feet of lean gas in place (5.5 billion barrels of oil equivalent in place) covering an area of about 100 square kilometres. Zohr is the largest gas discovery ever made in Egypt and in the Mediterranean Sea and could become one of the world’s largest natural-gas finds.

Eni will start drilling activities at Zohr field in January.