Exporting shipments of liquefied natural gas from the two liquefaction units in Idku and Damietta.
The Egyptian Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla, said that the rise in global oil and gas prices encouraged international companies to intensify their search and exploration operations with the aim of making new discoveries, especially in light of the global recovery from the Corona pandemic.
The minister added, in a statement, on behalf of the ministry today, Wednesday, that gold search operations are currently being intensified and preparations are being made to start experimental production from the Iqat gold detector in southern Egypt during the coming period.
The minister pointed out that Egypt is currently exporting shipments of liquefied natural gas from the two liquefaction units in Idku and Damietta, after its success in achieving self-sufficiency in natural gas and providing a surplus for export.
This came during a meeting with the Minister of Petroleum Glenn Miles, the Australian ambassador in Cairo, where they reviewed the current conditions in the oil and gas markets in light of the current challenges and the importance of natural gas as a transitional fuel during the current stage, as well as reviewing the energy transition efforts and Egypt's preparations to host the COP27 World Climate Summit, in addition to To review mining activities in Egypt and Australia and efforts to develop the mineral wealth system in Egypt.
The gold reserves in Iqat’s detection are estimated at more than one million ounces of gold at a minimum, with total investments exceeding the billion dollar barrier, while the average gold concentration is 1.5 grams per ton, and it is affiliated with the Egyptian Shalateen Company.
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