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Egypt hopes to reach gas market balance in 2018, to export by 2020

A refinery is pictured at a branch of petroleum company Petrojet in the Mediterranean city of Alexandria, 230 km (143 miles) north of Cairo, October 18, 2013.
Image for illustrative purposes.

A refinery is pictured at a branch of petroleum company Petrojet in the Mediterranean city of Alexandria, 230 km (143 miles) north of Cairo, October 18, 2013. Image for illustrative purposes.

REUTERS/Amr Dalsh
CAIRO, Feb 15 (Reuters) - Egypt hopes its gas market will be balanced in 2018 and expects to begin exporting gas by 2020, EGAS chief Mohamed Al-Masry said on Wednesday at an oil conference in Cairo.

Al-Masry also said 2018 will be the last year for Egypt to import gas for the domestic market.

Egypt has gone from exporting energy to being a net importer as domestic output has failed to keep pace with rising demand.

Al-Masry asaid BP's North Alexandria field is on a fast track and will be ahead of schedule by six months.

(Reporting by Eric Knecht; editing by Susan Thomas; writing by Asma Alsharif) ((asma.alsharif@thomsonreuters.com; +20225783290; Reuters Messaging: asma.alsharif.reuters.com@reuters.net))
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