Egypt’s EGAS boosts gas output capacity to 7.2bln cfpd

Egypt’s EGAS boosts gas output capacity to 7.2bln cfpd

Cairo –  The Egyptian Natural Gas Holding Company (EGAS) increased its natural gas output capacity to 7.2 billion cubic feet per day (cfpd) over the last five years, the company's Chairman, Magdy Galal, revealed.The company signed five agreements during fiscal year 2019/2020 and three others in the first quarter of FY20/21 with total investments of $934 million and signature bonuses of $51 million, he added in a statement released by the Ministry of Petroleum and Mineral Resources on Sunday.In addition, six other deals are expected to be finalised in the coming period with investments of $731 million and signature bonuses of $14 million.Over the course of the year ended 30 June, EGAS implemented several projects with total investments of $1.1 billion, including the resumption of the second phase of Zohr