Proven Natural Gas Reserves Have Increased by 57 Trillion Cu Ft to 78 Trillion Cu Ft Over the Past 10 Years

摘要

According to the Egyptian Oil Minister, Mr. Sameh Fahmy, natural gas reserves of 57,000 billion cubic feet (57 trillion cu ft) have been discovered in Egypt over the past 10 years, increasing its total proven gas reserves to 78 trillion cu ft. Mr. Fahmy pointed out that the Oil Ministry used to have a policy of earmarking one-third of reserves for domestic consumption, one-third for export and one-third for future generations, but it appears that, over the past decade,-70% of additions to reserves have been allocated to future generations, 23% to domestic consumption and 7% to exports. That was a result of the fact that a far greater volume of new reserves had been discovered during the period than expected 10 years ago, explained the Minister. He was speaking on the occasion of a meeting of the National Council for Production and Economic Affairs, which was held to examine a study on the optimal utilization of natural gas in Egypt, and his statements were published on the Oil Ministry's website.