The state has been working on turning Egypt into a regional centre for energy trade and circulation making benefit of its distinguished geographical location, Minister of Petroleum Tarek El Mola said in National Youth Conference on Monday in Alexandria.
That is why the ministry has been focusing on infrastructure development such as in Sumed line extending from Ain Sokhna till Alexandria, warehouses, maritime ports, and refineries to be finished by 2030.
Mola announced that 33 percent of households with natural gas had the service introduced throughout the last three years, and that the shortage in butane gas cylinders has been terminated.
The minister declared that throughout the same period the ministry reduced its debts to foreign oil and gas companies has been reduced from $6.3 billion to $2.3 billion, and signed 76 agreements with petroleum companies.
The most well known among these is one signed with Eni which has led to the discovery of the largest natural gas field in the Mediterranean in 2015.