WTI Crude

Loading...

Brent Crude

Loading...

Natural Gas

Loading...

Gasoline

Loading...

Heating Oil

Loading...

Rotate device for more commodity prices

Trump May Have Unintentionally Killed U.S. Nuclear

Trump May Have Unintentionally Killed U.S. Nuclear

As President Trump takes aim…

Strong Draw In Crude Inventories Boosts Oil Prices

Strong Draw In Crude Inventories Boosts Oil Prices

Oil prices continued to rise…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Egypt To Double Gas Output By 2020

Gas

Output from three of Egypt’s newest natural gas fields will boost the nation’s output by 50 percent by 2018 and by 100 percent in 2020, according to new forecasts from the petroleum ministry.

“The fields of Zohr, North Alexandria and Nooros are among the most important projects that will increase natural gas production ... and will contribute to (Egypt’s) natural gas self-sufficiency by the end of 2018," Petroleum Minister Tarek El Molla said in a recent statement.

The North African country’s output has been on the rise this year, with government figures showing 5.1 billion cubic feet per day of production – up 0.7 billion cubic feet from 2016 due to first gas from a new phase of BP’s North Alexandria project.

A reliance on imports to meet energy needs has pushed the nation to adopt an agenda that will end gas shipments from abroad by 2019. Egypt lost its status as an energy exporter when domestic demand heightened alongside development and population increases.

By 2019, Eni’s Zohr field and the two other projects will cause gas production to jump by 4.6 billion cubic feet of gas per day. Nooros began production back in September 2015.

Related: Russian Energy Minister: No Additional Output Cuts Are Needed

Egypt is currently allying with Saudi Arabia, Bahrain, and other Gulf allies against Qatar—a country accused of supporting terrorism via its links to the Muslim Brotherhood and Hezbollah, as well as unfairly granting asylum to political dissidents from the monarchies of the Arabian Peninsula.

 Qatar is the largest liquified natural gas exporter in the world. The countries that share maritime boundaries with Doha have banned the passage of Qatari gas cargo through their waters, but ships are still making their way to their intended destinations on schedule, causing very little disruption to fragile global energy markets. The multilateral row shows no signs of de-escalation, however.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News