HBS International, a Tunisia-based oil and gas company, is investing $65 million this year to enhance natural gas reserves and production in Egypt’s Western Desert, particularly in the southwest El Alamein area.
This investment aims to increase the company’s natural gas output in Egypt by approximately 167% by October, reaching 40 million cubic feet per day, up from the current 15 million cubic feet daily.
In response to fuel demands for power plants, the Egyptian government plans to import 22 shipments of liquefied natural gas (LNG) during August and September.
Earlier this month, the Ministry of Petroleum and Mineral Resources received the 10th of the 21 planned LNG shipments for power plants and fertilizer factories.
Looking ahead, Egypt also plans to import up to 17 additional LNG shipments in the fourth quarter of this year.
