How Egypt’s Natural Gas Reserves Contribute to the Global Energy Market

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Egypt, with its abundant natural gas reserves and its strategic location bridging Africa and the Middle East, plays a strong role in the global natural gas and energy sector, especially as one of the top 20 natural gas-producing countries. The annual production rate of natural gas, recorded at approximately 1.75 million cubic feet (MMcf) in 2015, underscores Egypt’s strong capacity. As of 2017, the country boasted 77 trillion cubic feet (Tcf) of natural gas reserves, making it the 16th largest holder of such reserves globally. These reserves represent about 1 percent of the world’s total.  Egypt’s ample wealth of natural gas ensures long-term energy security, especially as it provides more than 37.9 times its annual consumption. As of 2021, Egypt was responsible for the production of 26.7 percent of all gas produced regionally and 8.7 percent of total energy exports in the region. In September 2023, the country ranked as the world’s 12th largest exporter of liquefied natural gas (LNG), and third in the top African countries in terms of reserves, with approximately 2.1 trillion cubic meters. This makes it a pivotal player in the global energy market, attracting both…

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The post How Egypt’s Natural Gas Reserves Contribute to the Global Energy Market first appeared on Egyptian Streets.

Source: egyptianstreets