The expected surge in natural gas production will stem from the commencement of operations at recently discovered deep-water fields in the western Delta.
The Egyptian government aims to increase Egypt's natural gas production by about 8% during the next fiscal year (FY) 2024/2025, to reach an average of 5.7 billion cubic feet per day, compared to 5.3 billion cubic feet per day at the FY2023/2024, a government official said to Asharq Bloomberg.
The expected surge in natural gas production will stem from the commencement of operations at recently discovered deep-water fields in the western Delta.
Shell and Petronas, in particular, expect to contribute approximately 200 million cubic feet per day to this increased production. Additionally, Eni and Chevron possess several fields that will also contribute to the overall boost in natural gas output.
From July to October, Egypt intends to import 3 shipments per month of liquefied gas at a cost of up to $120 million per month, according to a government official said to Asharq last month.
Natural gas production in Egypt declined in 2023 to its lowest levels since 2017, reaching 59.29 billion cubic metres, an 11.5% decrease from 2022 on an annual basis, according to figures from the Joint Organizations Data Initiative (GODI).
