He added that the quantities of gas consumption of homes are targeted to reach 7 percent during the next fiscal year as a result of the intensification of projects to deliver natural gas to homes.
Lebanon suffers from a crisis in fuel and electricity within a severe economic crisis, which makes a room for questioning about who would pay for exporting the gas to the Lebanese lands.
Egypt will export natural gas to Lebanon in the coming weeks, Minister of Petroleum Tarek el-Mulla said in a Tuesday press conference.
"Egypt is working to speed up coordination for delivering the Egyptian natural gas to Lebanon through Jordan and Syria,” said Tarek El Molla.
An Egyptian-Cypriot summit in Cairo on Saturday represented a new leap in relations between the two Mediterranean countries, cementing an Eastern Mediterranean alliance.
The first stage of the project stands at LE 17.2 billion and about 4 million housing units during the 2020-2021 fiscal year.
Cairo will send Egyptian natural gas to Jordan so that it can produce extra quantities of electricity and add them to the grid linking Jordan with Lebanon via Syria, a statement by the Lebanese Presidency revealed.
Within "Decent Life" initiative, natural gas will be introduced in four million households located in 1,337 villages extending pipes over 16,000 kilometers.
Egypt’s budget for 2021/2022 shows great attention to replacing petroleum products with natural gas amid unprecedented figures of homes that have access to the energy.
Egypt's Prime Minister Mostafa Madbouli attended Wednesday the inking ceremony of a joint contract to convert 2,262 public buses in Cairo and Alexandria to run on natural gas instead of gasoline, at about EGP 1.2 billion cost.
Mait added that since April until present, 500 cars have been delivered to beneficiaries with the state funding them with LE16.2 million.
The minister pointed out to the goal set to transform 450,000 fuel-powered cars to become gas-powered over three years between 2020 and 2023.
Minister of Petroleum and Mineral Resources Tarek al-Mulla stated that Egypt will not need to import liquid fuel by 2023.
Two successful exploration wells have been drilled, and a three-dimensional seismic survey has been conducted in the areas of the Western Mediterranean agreements for an area of 18,000 km2.
Bloomberg has announced that Egypt is on the course to become one of the world's top 10 natural gas exporters if it reaches full capacity in 2021, backed by the country's endeavors to boost its exports of liquified natural gas, through restarting one of its two production plants.
The center, in a statement Sunday, said it had contacted the Petroleum Ministry to verify the news, adding that the Ministry dismissed all reports of a fuel crisis as baseless.
The stage is now set for expanding the national project to use natural gas as vehicle fuel in light of the increase of local production of natural gas along with the support offered by the presidency and the government and the efforts of several bodies concerned in the state to that effect, said Minister of Petroleum and Mineral Resources Tareq el Mulla.
About LE 15 billion will be secured for financing the first stage of the initiative, noting that three stages will cost up to LE 60 billion.
Sisi on Monday inspected the pavilions of the first exhibition showcasing technologies of converting vehicles to run on natural gas.
The old private cars would be replaced by new ones of the latest models that run on gas at a low cost with large financial facilities, low-interest rates and long-term loans, the Presidency said.