The government has revealed the details of the program to completely resolve the energy crisis by the end of 2019, according to a government source speaking to Egypt Oil&Gas.
The source further explained that the program revolves around five main themes: to supply petroleum products and natural gas based on the country’s needs, to expand the natural gas use and gas projects delivery, to expand the petrochemical industry, to supply the natural gas and petroleum products to the electricity sector as well as to meet the citizens’ and industrial sector’s need of gasoline, diesel, and fuel oil, and lastly, to improve the gas fields, most importantly Zohr and Nooros gas fields. The two gas fields are considered to be the country’s crucial development projects with total investments of $27.2b and the production rates of 4.6bcf/d of gas.
The strategy promises to resolve the energy crisis in Egypt by the end of 2019, said the government source.
Additionally, the program aims to transform Egypt into a regional energy hub in the Middle East region, bring added value to the Egyptian economy, achieve economic growth, entice investment opportunities, and improve Egypt’s regional role.