الفهرس 
Chapter 2: International Gas Markets & Pricing MethodsOnly 14 pages are availabe for public view
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Abstract
Egypt was one of the first countries to enter the era of oil exploration and production, when the field ”GEMSA” was discovered in 1910, while the
discovery of gas wells with an economical quantities began only in 1967, when BELA YIM Petroleum Company - PETROBEL discovered the field ”ABU
MADl” in the middle of the delta, followed by the field ”ABU QIR” In 1969 in the Mediterranean Sea and then the field of” ABU EL GHARADIG” in the
Western Desert in 1971. PETROLEUM as a terminology c~lnes from the Latin word ”PETRO” which means rock and ”OLEUM” which means oil but the meaning includes oil and gas together.
Scientifically, Natural gas is considered to be hydrocarbons. It includes Methane, Ethane, Propane, Butane, with an 85% of Methane usually. I Petrol is used in about 60% of the world’s energy needs, while Coal, wind, solar, and nuclear power make up the rest of the percentage.
Petroleum usages are divided into 65% for fuel and 35% for heating and other
operations like generating power plants, natural gas in homes and the
petrochemical industry, which alone are involved in 85 industries such as tires, pesticides, detergents, paints, plastics, textiles and agricultural fertilizers.2
Natural gas has a great importance in Egypt economically and socially, since
the beginning ofthe production from the field ”ABU MADl” a huge number of
projects played a significant role in supporting the Egyptian economy over the years, unti I we reached the stage of self-sufficiency, in September 2019 to produce about 6.8 BCF/O, while the daily consumption of Egypt is estimated at 6.3 BCF/O, which makes Egypt among the countries that produce and export the natural gas in the world.