Egypt bets on new gas discoveries to achieve self-sufficiency

Egypt’s latest natural gas discoveries, coupled with growing foreign investment in the energy sector, is fuelling growing optimism that the country could achieve self-sufficiency of gas over the next few years, as part of its broader ambition to establish itself as a regional energy hub. Prime Minister Moustafa Madbouli has revealed that the country is preparing to announce a series of promising new gas discoveries, including the offshore field “Dennis-1”. Addressing a press conference on Wednesday, Madbouli highlighted a newly identified gas source in the Nile Delta near Abu Madi in Kafr El-Sheikh governorate. The field is expected to add around 50 million cubic feet of gas per day to national production. Given its proximity to the Mediterranean coast, production from the site could begin as early as this summer, helping reduce import costs at a time of rising domestic energy demand. Following the landmark discovery of the Zohr field in 2015, which transformed Egypt into a gas exporter, the country has over recent years faced declining output from mature fields alongside surging summer electricity consumption. This has forced increased imports of liquefied natural gas to cover supply gaps. Minister of Petroleum and Mineral Resources Karim Badawi said the Dennis-1 offshore well, drilled by Italy’s ENI near Port Said, is expected to come online in the second half of 2027. The field is estimated to hold around 2 trillion cubic feet of gas and 130 million barrels of condensates. Up to 22 oil and gas discoveries have been reported over the past six months, energy expert Gamal El-Qalyoubi said, adding that Egypt’s efforts to clear outstanding debts to foreign energy companies have encouraged further exploration activities. “These newly discovered fields will offset the natural decline in existing reservoirs,” he said, adding that Egypt could achieve gas self-sufficiency until 2028. Experts underline that continued exploration and development is central to Egypt’s ambition to become a key energy trading hub linking the Middle East, Europe and Africa. According to international market research firm IMARC, investment in Egypt’s natural gas exploration sector is projected to rise to $7.1 billion by 2034, up from $3.8 billion by 2025. Former petroleum minister and current head of the House of Representatives’ Energy and Environment Committee Tarek El Molla said Egypt has recently discovered 50 to 60 new reserves, adding around 2 trillion cubic feet of gas and more than 100 million barrels of crude oil. He noted that national gas production stands at 5.5 to 6 billion cubic feet per day, while demand reaches around 6.5 billion cubic feet, creating a manageable supply gap that is currently covered through imports and redistribution. The post Egypt bets on new gas discoveries to achieve self-sufficiency appeared first on Egyptian Gazette.