Gazprom’s Headquarters hosted today a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Rauf Saad, Extraordinary and Plenipotentiary Ambassador of the Arab Republic of Egypt in the Russian Federation.

The parties addressed the outlook of bilateral cooperation in the oil and gas sector and deliberated on hydrocarbon production, transmission and processing projects being implemented in Egypt.

Reference:

Egypt’s proved natural gas reserves account for 1.76 tcm – third-largest in Africa, after Nigeria and Algiers – with oil reserves amounting to 500 mln t. In 2003, Egypt extracted 25 bcm of natural gas and 36.8 mln t of oil, consuming 24.6 bcm of gas and 25.9 mln t of oil. Natural gas, oil and hydropower share in the country’s power and fuel balance stands for 42%, 50% and 8%, respectively.

Egypt’s gas industry is experiencing rapid development with natural gas production doubling over the past 4 years. While the International Egyptian Oil Company is the largest natural gas producer in Egypt, the domestic gas industry is being managed by the state-controlled Egyptian Natural Gas Holding Company.

In 2003, for the 1st time in the country’s history, Egypt started exporting natural gas by the small Egypt-Jordan gas pipeline.

In the autumn of 2004, Egypt brought into operation the 1st line of a gas liquefaction plant. At present, the country is developing a gas distribution network.

DIVISION OF RELATIONS WITH MASS MEDIA