Mubasher TV
Contact Us Advertising   العربية

Investments in natural gas reach EGP 1trn

Investments in natural gas reach EGP 1trn
Egypt managed to be self-sufficient in natural gas in September 2018

Cairo – Mubasher: The natural gas sector has contributed 19% to Egypt’s gross domestic product (GDP) growth during fiscal year 2018/2019, the minister of petroleum Tarek El-Molla revealed.

The gas sector registered the highest growth rate of 21% during the 12-month period ended 30 June 2019, El-Molla said in a statement on Wednesday.

Investments in the gas sector reached about EGP 1 trillion, including EGP 500 billion in completed projects, EGP 280 billion in under-construction projects, and EGP 220 billion in planned projects, he added.

Egypt managed to be self-sufficient in natural gas in September 2018 and achieved the highest daily output of oil and gas of 1.9 million barrels of oil equivalent in August 2019, he pointed out.