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الشرق الأوسط
Source: الشرق الأوسط
9 Hrsالشرق الأوسط
Source: الشرق الأوسط
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Egypt’s Ministry of Petroleum announced the discovery of around 200 billion cubic feet of gas at the Nasim-1X well in the Mediterranean Sea, and plans to connect it to production facilities via a 22-kilometer pipeline. But new discoveries cannot close the consumption gap quickly: gas production fell 8% in the first five months of the year, while consumption rose 7.3%. Imports also increased 7% in May, to 2.33 billion cubic meters. Experts attribute this to the time it takes to bring offshore wells online—around a year and a half—and to the high production costs and investment required, which can make imports less expensive at certain times.
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