(MENAFN- Daily News Egypt) The Ministry of Petroleum and Mineral Resources estimated the increase in domestic natural gas consumption in the next fiscal year (FY) 2020/21 at about 375m cubic feet of gas per day (scf/day).
A source in the petroleum sector told Daily News Egypt that the average domestic market consumption of natural gas in FY 2020/2021 was estimated at 6.979bn scf/day, compared to 6.61bn scf/day in FY 2019/20.
He explained that power plants account for 78% of the increase in gas consumption.
Power stations normally receive 60% of total local gas consumption, while industry accounts for 30%, cars, and household 10%. The surplus of domestic production is directed to export through the liquefaction factories.
The source added that the rate of natural gas consumption in the local market is growing annually, according to the urban and industrial development plan, and with the increase in the number of cars that run on natural gas.
The source stressed that the market's growing gas needs would be met through local production, as Egypt's surplus of production exceeded 1bn scf that is mainly exported to Jordan.
The Ministry of Petroleum's plan to transform Egypt into a regional energy hub aims to expand the export of gas for the benefit of Egypt or others to achieve a return from the exploitation of the national network and liquefaction stations. It would also advance the Egyptian industry and expand the petrochemical industries that create value added products.
The petroleum sector witnessed several big discoveries in the last period that were linked to production successively, bringing the total production to about 2.7bn scf/day currently, compared to 7bn scf/day last March.
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