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Egypt gains importance as a regional gas center

Egipto-centro-gasístico-regional

Egypt gains importance as a regional gas center

Cairo, Jun 20 (Prensa Latina) Egypt is currently a regional center for trading natural gas, Minister of Petroleum and Mineral Resources Tarek El Molla stated after highlighting the recent agreement to supply that hydrocarbon to the European Union (EU).
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That pact will be a new set of agreements with other countries, the official said during an interview with a national television station.

Last week, Israel, Egypt and the EU signed a document to supply gas to the community bloc.

According to what was signed, that resource will be extracted from the large fields located in Israeli territorial waters, from where it will be transferred to this nation to be liquefied before being transported to Europe in Liquefied Natural Gas (LNG) carriers.

Just in 2021, Egypt’s hydrocarbon foreign sales revenues rose to some 13 billion dollars, five billion dollars more compared to the previous year, the ministry stated.

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