Petroleum Minister Tarek al-Molla said candidates in the parliamentary elections in Upper Egypt are spreading rumors that have created a fuel crisis so they can use it in their campaigning. “We have pumped large quantities into the market,” he added.
He also said the ministry is increasing gas supplies to energy-intensive factories, which suffered from a shortage during the summer. “The problem will be resolved when the second ship that converts liquified natural gas into a gaseous substance starts operating in October,” he said, denying any intention to increase prices.
“We plan with our Cypriot partners to transform Egypt into a regional center for energy exports,” he said, adding that he will soon resolve the problems of the stalled liquefaction plants in Edco and Damietta, regardless of the arbitration cases that were filed against them.
The minister expects new international companies to come and work in Egypt after the gas field discovery by the Italian company Eni.
Edited translation from Al-Masry Al-Youm
