Minister of Petroleum and Mineral Resources Karim Badawi attended the general assembly meeting of Natural Gas Vehicles Company (Cargas) to review its fiscal year results in 2024, reaffirming the ministry’s full support for the company’s services and praising its partnership with bp.
Badawi emphasized the importance of focusing on implementing new fueling stations in 2025 given the growing demand for gas supply services, which will increase economic feasibility and facilitate the process to convert to vehicles to run on natural gas.
Cargas has achieved 514 million cubic meters (mcm) of natural gas sales in 2024, reducing liquid fuel consumption and aligning with the ministry’s fifth pillar related to environmental sustainability and energy conservation, said Khaled Gamal, Chairman and Managing Director of Cargas.
The company inaugurated 34 new natural gas fueling stations, expanding its network to a total of 336 stations. Besides, it has developed and upgraded many existing stations.
The company has converted 258,000 cars to run on natural gas since its inception, reducing about 44,000 tons of carbon emissions. This was achieved through 54 conversion and maintenance centers nationwide, Gamal noted.
In its oil business, Gamal noted that Cargas achieved an unprecedented boom in oil business, exceeding 5,000 tons sales during 2024, a 54% increase over the previous year’s sales. It has also launched a new oil product for gasoline and gas engines under its CARGAS brand
As part of the petroleum sector’s social responsibility strategy, Cargas signed protocols to bolster healthcare and community development projects under the Egyptian Natural Gas Holding Company (EGAS).
