13 November 2018 05:00 AM

Sisi: We have nothing to hide in gas file

Thursday، 22 February 2018 - 02:40 PM

President Abdel Fattah El Sisi said Egypt has turned into a regional energy center in the region, adding new gas discoveries in East Mediterranean whether in Egypt, Greece, Cyprus or Israel have had three methods to handle before use: either they are handled through discovering countries or through Egypt or Turkey .

The President assured the Egyptian people about reports on the importation of gas from Israel saying that the Egyptian government is not a party in the natural gas deal signed between the Egyptian private sector and Israel .

We have nothing to hide in this issue but I am happy over Egyptian people's keenness on their country, Sisi said during the opening of the first investor service center at the headquarters of the Investment Ministry .

President Sisi said the law organizes all issues related to gas trade and that Egypt already has a law in this regard .

The President said that Egypt gives equal chances to the private sector to import gas and that Egypt wants presence in free markets to circulate energy elements .

He said the state will benefit from the private companies' imports of gas in exchange for their use of state establishments and facilities .

He said that Egypt is about to be a regional center of gas in the region, the matter, which was a dream four years ago .

Sisi said he talks with the Egyptian people frankly, pointing out that Egypt consumes oil products either gas or diesel and gasoline worth between 800 million and 1.3 billion dollars a month (between 12 and 13 billion dollars a year).

He said the gas extracted from fields needs conversion operations in order to be fit for use or exports and that applies to gas found in Egypt, Cyprus, Israel and Lebanon .

The President said Egypt has logistic facilities not present in other countries in the Mediterranean region and that the region's countries can benefit from gas separately or via Egypt.

The President said the importation of gas is made in line with the market tools and has nothing to do with the production of Zohr Gas field.

He said the optimal use of gas is achieved through using it in projects that can achieve FAT added such Petrochemicals the President said during the inauguration of a number of investors service centers at the Investment ministry that there are laws which regulate trade in gas and allows the private sector to work freely in the field of energy .

The President said the state is keen to give a chance to all sincere investors and businessmen, stressing that law is dominant in Egypt

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