Egypt plans to connect 1.2 million homes with natural gas as in the Financial year 2016/2017, state owned corporation Natural Gas Holding Company has said.
According to the state owned corporation Egyptian Natural Gas Holding Company (EGAS) they have already done preliminary studies that will enable them deliver the gas connection to the homes.
This is expected to be one of the biggest projects that will be carried by EGAS in this 2016/17 Financial year and which are expected to be felt directly by the end users.
According to EGAS Chairman Khaled Abd El Badee delivering natural gas is part of the country’s Household Natural Gas Connection National Project.
The chairman added that EGAS will; achieve this by ensuring that they hand over natural gas factories which are estimated to be over 100 and 1,000 commercial clients.
Egypt’s natural gas status was boosted in 2014 as the government of Egypt’s awarded various tender to foreign companies to conduct various visibility studies and research that will see the country has a lot of gas fields.
Late October Italian energy company Eni knew it was taking a big risk this summer when it spent $60 million on an exploratory rig and began drilling more than 100 miles off the coast of Egypt.
The company, using drilling rights from the Egyptian government, found what it called a “supergiant” natural gas field. It may be the largest discovery yet in the Mediterranean and is one of the world’s biggest new gas finds in years.
Though currently Egypt’s becoming more energy-independent could sidetrack efforts — backed by the United States — to use energy diplomacy to improve relations between Israel and its Arab neighbors. Israel has its own ambitions for offshore natural gas, including a long-gestating plan to sell gas to Egypt.
