Egyptian President Abdel Fattah El-Sisi inaugurated the offshore Zohr gas field, aimed at making the country self-sufficient in natural gas by the end of 2018.
Petroleum Minister Tarek Al-Molla said at a ceremony in the northern city of Port Said: “We are now entering into the self-sufficiency stage. By the end of the year we will have reached self-sufficiency.”
In December 2017, the oil ministry said it was starting production from the field discovered in 2015 by Italian energy giant Eni with an initial 350 million cubic feet a day.
Al-Molla said that Egypt expects it “will be able to stop importing liquefied natural gas... and therefore save what we import which is $230m per month, or $2.8bn annually.”
The field, which is about 200km from the shore west of the canal city of Port Said, has a full output capacity of 2.7 billion cubic feet per day, News24 reported.