One Billion Cubic Feet of Natural Gas Will Be Exported Daily in 2024

The Ministry of Petroleum and Mineral Resources stated that Egypt is set to export one billion cubic feet of natural gas daily starting January 2024. The ministry is basing this strategy on an expected decrease of local natural gas consumption, from 7 billion cubic feet to 6 billion cubic feet, due to lowering temperatures.

Egypt's production rate of natural gas during the fiscal year of 2022/2023 ranges between 5.9 billion cubic feet and 6.1 billion cubic feet daily. The ministry elaborated that 57% of local gas consumption is directed towards electricity, while 25% of local gas consumption is directed towards the industrial sector.