RWE makes natural gas find in Egypt

CAIRO, May 5 (UPI) -- There is an "immense potential" for natural gas off the northern coast of Egypt, Germany energy company RWE declared.

RWE's division in Egypt announced that it made a natural gas find about 25 miles north of Alexandria. The production test at the well yielded around 25 million cubic feet of natural gas per day.

"This renewed find reflects the immense potential of this concession," said RWE Chief Operating Officer Ralf to Baben.

The find follows the fifth Egyptian natural gas find for Dana Gas, which said it uncovered reserves believed to be in excess of 60 billion cubic feet of gas.

RWE said it holds 12 onshore and offshore concessions in Egypt. The country supplies enough natural gas to meet about 20 percent of the demand from its neighbors in Israel.

A pipeline carrying natural gas to Israel and Jordan was attacked last month causing an explosion at a terminal west of El Arish approximately 30 miles south of the Israeli border.