Industry Oil and gas Owner Ministry of Petroleum Type of business state-owned | Website www.egas.com.eg Founded 2001 Headquarters Nasr City, Cairo | |
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Key people Mohamed Ali al-Masry (Chairman) | ||
The Egyptian Natural Gas Holding Company (EGAS) is an Egyptian state-owned holding company, which owns and manages state stakes in different gas project. The company was established in August 2001. EGAS is also responsible for issuing of natural gas exploration licenses in Egypt.
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Operations
In 2014/2015, EGAS signed six agreements, of them three offshore areas in Mediterranean Sea and three onshore areas in Nile Delta. In February 2015, a bidding for twelve offshore blocks in Mediterranean Sea was announced.
In 2014/2015, gas production reached about 1.65 trillion cubic feet per annum (47 billion cubic metres per annum) and total local consumption of natural gas reached 1.66 trillion cubic feet per annum (47 billion cubic metres per annum). Gas import started in April 2015, supplying to the national gas grid after the regasification with quantity of 30 billion cubic feet (850 million cubic metres). In 2012/2013, total net gas production in Egypt reached 2.26 trillion cubic feet per annum (64 billion cubic metres per annum).
Corporate affairs
In April 2016 Egyptian Oil Minister Tarek al-Molla replaced the Chairman of EGAS Khaled Abdel Badie by Mohamed Ali al-Masry who previously took place of the chairman of Egypt EPGC company.