Thursday 27 August 2020
Last update on Thursday, August 27, 2020 At 9:11 AM
The service stations distributing natural gas in Egypt will increase from 190 to 556 over the next five years, to meet the demand for 1.8 million cars in the country. Egypt wants to capitalize on its huge reserves of natural gas and reduce fuel imports.
The Egyptian government has just announced plans to increase the number of gas stations that distribute natural gas for cars from 190 to 556. This initiative aims above all to take advantage of the boom in gas discoveries with relatively low prices. In addition, it will make it possible to reduce the imports of petroleum products aimed at meeting the demand of the automobile fleet in the country.
The project is part of the five-year program, announced in early 2020, which aims to run 1.8 million cars on natural gas and gasoline.Under the same program, owners of vehicles over 20 years old will receive low-interest loans for the purchase of new dual-fuel vehicles (gas and gasoline). Owners of newer vehicles will be able to take advantage of zero-interest financing for new engines.
The state-owned GASTEC, which manages 100 of the 190 operating service stations, has been appointed to lead this plan. It is expected to open 23 new natural gas filling stations and five integrated natural gas and gasoline stations by the end of this year.
Source Ecofin Agency
