Egypt Hopes To Reach Gas Market Balance In 2018, To Export By 2020

Reuters

CAIRO, Feb 15 (Reuters) - Egypt hopes its gas market will be balanced in 2018 and expects to begin exporting gas by 2020, EGAS chief Mohamed Al-Masry said on Wednesday at an oil conference in Cairo.

Al-Masry also said 2018 will be the last year for Egypt to import gas for the domestic market.

Egypt has gone from exporting energy to being a net importer as domestic output has failed to keep pace with rising demand.

Al-Masry said BP's North Alexandria field is on a fast track and will be ahead of schedule by six months.

(Reporting by Eric Knecht; editing by Susan Thomas; writing by Asma Alsharif)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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