Egypt to not need liquid fuel imports by 2023: petroleum minister

CAIRO – 15 March 2021: In a meeting with the Parliamentarian Committee of Energy and Environment Sunday, Minister of Petroleum and Mineral Resources Tarek al-Mulla stated that Egypt will not need to import liquid fuel by 2023.

The minister pointed out that will not be the first time Egypt achieves self-sufficiency in the energy sector for it happened in 2018 with natural gas. He added that prices set for gas selling locally is lower than that of exports underlining that Egypt is currently a liquidation center for regional gas.

Mulla highlighted that the North African Arab state succeeded in the past few years to attract investments by large international players that had not been operating in Egypt before.