Egypt targets $2.3bn in gas investments to boost production

Egypt aims to attract investments worth $2.3bn in its natural gas sector during FY 2026/27, as part of efforts to boost production and secure domestic energy supplies, a government official told Asharq Business on March 12.

The planned investments are expected to add around 1.34bn cubic feet of gas per day (37.9mn cubic metres per day) and around 18,600 barrels of condensate. The Ministry of Petroleum and Mineral Resources has reached agreements with foreign companies operating in Egypt to increase their investments in the coming fiscal year by about $1.1bn compared with estimates for the current year, according to the official.

The government is targeting gas production of roughly 4.2bn cubic feet per day (118.9mn cubic metres per day) by the end of June 2027, slightly higher than the current output of about 4.1bn cubic feet per day (116.1mn cubic metres per day).

As part of efforts to secure supplies for the domestic market, Egypt is preparing to receive 10 shipments of liquefied natural gas (LNG) before the end of March 2026. The cargoes had originally been scheduled for delivery in Q4 2025 but were postponed after supply tenders were awarded.

According to Asharq Business, the shipments will be processed through three floating regasification vessels stationed at Egyptian ports, allowing the gas to be quickly injected into the national gas grid to compensate for suspended Israeli gas supplies.

Each shipment will carry between 150,000 and 155,000 cubic metres of LNG and will be directed to power stations and industrial facilities.

President Abdel Fattah El-Sisi urged the government and oil companies to expand oil and gas exploration to meet domestic demand and reduce imports.