The gradual increase in production has resulted in a remarkable 57% growth in natural gas output during the period of 2021/2022.
Self-sufficiency in domestically produced natural gas was achieved by the end of September 2018 - File Photo
Egypt's production of natural gas has soared to unprecedented rates, serving as a testament to the success of the petroleum sector's accelerated efforts in developing discovered fields and putting them into production.
This gradual increase in production has resulted in a remarkable 57% growth in natural gas output during the period of 2021/2022 compared to 2015/2016.
Over the past nine years, the total production of Egypt's petroleum wealth has amounted to approximately 673 million metric tons, comprising 272 million metric tons of crude oil and condensates, 390 million metric tons of natural gas, and 11 million metric tons of butane gas, in addition to the butane gas produced by refineries.
Furthermore, self-sufficiency in domestically produced natural gas was achieved by the end of September 2018, thanks to the increased local gas production resulting from the development and implementation of new phases of several gas field development projects.
Notably, four major gas fields in the Mediterranean have been successfully put on the production map, leading to a cessation of liquefied natural gas imports. This has consequently helped conserve foreign exchange reserves and reduce the burden on the state budget.
As a result, Egypt has transformed from being one of the largest importers of liquefied gas between 2015 and 2017 to becoming a key player in the gas sector.
In terms of natural gas production, Egypt ranked second in North Africa and the Middle East, and fourteenth globally in 2020, climbing up from its eighteenth global ranking in 2015.
The surge in natural gas production has also contributed to achieving the highest production rate of Egypt's petroleum wealth in history, reaching approximately 1.9 million barrels of oil equivalent per day in August 2019, encompassing crude oil, gas, and condensates.
Egypt's remarkable achievements in the petroleum sector, particularly in natural gas production, have significantly impacted the country's economic landscape.
The substantial increase in production has not only enhanced energy security but has also reduced dependency on gas imports, fostering a more sustainable economic environment.
Moreover, Egypt's emergence as a key player in the gas sector has attracted substantial investments, boosting the nation's economy and reinforcing its regional influence.
