Egypt keen on supporting international coordination in gas industry

Mar 15, 2004 01:00 AM

Petroleum Minister Sameh Fahmi said President Hosni Mubarak is keen on backing all steps for coordination on the global gas market. Fahmi expressed Egypt's commitment to link the Arab gas pipeline with the European network via Turkey as part of gas cooperation agreements signed during the Euro-Mediterranean Conference in 2003.
Egypt has started exporting natural gas to Jordan in July as part of the Arab gas pipeline first stage. The second stage will be from the Jordanian town of Aqaba to Al-Rehab town on the Syrian border. Then, the Arab gas line will be extended from Syria to Lebanon and Turkey.

Fahmi was speaking in the opening session of the fourth meeting of the natural gas exporting countries opened in Cairo. Attending the meeting were oil ministers of 15 gas producing and exporting countries.
The participating countries possess as much as 75 % of the natural gas reserves and contribute 90 % to international gas exports. For the first time, Egypt will start exporting 7.5 bn cm of liquefied gas to Spain annually, adding that this project would start in November. He said the forum brings together countries possessing huge natural gas resources and human capabilities and this provides a chance for better coordination to materialize the aspirations of their peoples.

The minister underlined the importance of coping up with the technological progress in this field and benefiting from joint researches, especially as oil and gas projects required huge investments that exceed the potentials of one country and required the participation of many sides. Hamad Al-Attiyah, Qatari Deputy Premier and Energy Minister, made clear that the forum does not aim at increasing the prices of natural gas, stressing that all gas producing countries would find a place on the global gas market.
He added that Qatar would be on the top of the gas producing countries, given its huge reserves. He expected that natural gas would be the most important energy source in the world, given the growing demand for it.

The forum will discuss a number of working papers, including an Egyptian on global pricing of gas.
He added that the former meetings of the gas producers and exporters were vital and influential in preparation for talks with gas consumers.

Source: Arabic News
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