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24 May 2016, Mariyana Kraleva, EMIS Editor

Egypt's gas production could reach 6 billion cubic feet by year-end 2019

Country’s Oil Minister, Tarek El-Molla has announced that the country plan is to boost its natural gas output from the current 3.9 Bcf/d to between 5.5 and 6 Bcf/d by 2019 ending.

Egypt has become a net importer because of reducing oil and gas production and growing consumption.

Currently the country has 12 natural gas field development projects estimated at a total of $33 billion in investment ongoing, El-Molla added during his speech in the port city of Damietta.

The non-OPEC producer is also planning to hire its third floating and storage regasification unit (FSRU) by the second quarter of 2017.

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