The arrangement “gave $ 120 billion annually to operate power stations,” according to Abdel-Fattah El-Sisi.
He added in an intervention during the speech of Prime Minister Mustafa Madbouly, in front of the “Economic Conference . . Egypt 2022” in the administrative capital, that “had it not been for the demarcation of the maritime borders, the exploration companies would not have been able to work in these areas.
” The Egyptian President continued: “God preferred us was great by discovering the Dhahr field, and without it Egypt would have been dark, because we do not have to save $ 2 billion per month at the old prices of gas to operate power stations, while at the current prices, the cost may reach 10 billion dollars per month to purchase the gas required to operate stations Egypt has electricity, ensuring that power is not cut off.
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These figures, he pointed out, translate into an annual expenditure of $ 120 billion.
He continued: “The Italian company Eni requested a 5 -year period for gas excavation in the back field in the Mediterranean, but I asked them to shorten that period to only 18 months, with a solution to all problems within the Egyptian maritime borders immediately.
The Egyptian President emphasised that “the lands that were devoted to the development of a refining plant were allocated within just two hours, despite it often taking two to three years to obtain the necessary licences.
Al-Sisi spoke of “the size of the effort and the hard and continuous work of the state over the course of 7 years,” adding that “Madbouly talks about addresses for all achievements for us as Egyptians, and this necessitated 25 thousand continuous working hours without stopping me and from the state, at least 10 hours per day in 30 days a month, which is to say, 84 months during that period.
Al-Sisi recognises the value of establishing marine borders. Darkness loomed over Egypt.
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