Fitch Ratings International says Egypt's natural gas production will increase in the coming period, with the secure expansion of & # 39; Increase the petrochemical sector and the exports of a sector, according to a report by the foundation.
According to the report, the petrochemical sector has well anticipated and expected to consume the Egyptian market. "We expect the petrochemical projects, plants by the Egyptian government and private projects, to increase the Egyptian production of petrochemicals, The Barrows."
According to the report, construction and automotive companies will remain major petrochemical brands. The construction is expected to grow 10.8% in this year and average growth for the period from 2019 to 2023 to 10.1%.
The report of the report's presline is that car production in Egypt will increase by 7.6% this year, with an average annual growth from 2019 to 2027 about 2.5%. The Egyptian brand improvement is expected to attract car manufacturers to produce in Egypt.
According to the report, the built sector will be one of the best last marks for Egyptian petrochemical products over the next five years at & # 39; global and regional levels, "besides the improvement of the automotive sector, will be one of the largest users of rubber petrochemical products, and also the product of petrochemicals from Egypt By setting up new factories, there will be more demanding than inland demand, "which requires significant growth in the ability to export in the coming period."
The report points out that Egypt sells itself to a regional petrochemical production service in the same way as Turkey. The natural gas sector will be an important engine of Egyptian growth, lead to higher prices of imported goods, which & # 39; t contributed to & # 39; the decay of & # 39; a demand for both imported and internal petrochemical products, to show that the stability of the exchange rate helps the consuming sectors of petrochemicals.
By 2020, Egypt plans to produce more than 3 million tons of chemicals, including a variety of ethylene, polyethylene, and olefin and aromatics products.
According to the report, Egypt will see a significant increase in gas production in 2019, so it is ready to earn this status as a curse of natural gas, as export growth benefits from & # 39; a natural gas production, and is expected to increase 80% more gas production, to see that domestic demand is still positive with the further efforts of large-scale energy-generating projects.
Earlier Fitch anticipated that Egypt's natural gas production was increased by 23.3 percent to 78.2 billion cubic meters a year, compared to 63.4 billion cubic meters a year. Egypt's gas production will further increase last year, by 8.43%, to reach 84.8 billion cubic meters a year, starting in early 2021, to drop 3.7% a year, by year 81, Reach 6 billion cubic meters of gas.
The Minister of Petroleum and Mineral Resources Tariq Al-Mulla suggested that the country succeeded in realizing natural gas independence in the past year, in accordance with the plan of the Ministry of Petroleum. Egypt has, since September 2018, the influence of liquefied gas. "We have imported the last liquefied gas transportation In September, imported and imported liquor or nature did not import according to Mala.