Companies stopped importing gas after Egypt’s production increased
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Egypt is said to have signed an agreement with Cyprus to buy natural gas to fulfil the local market’s needs.
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A senior official with the Egyptian Natural Gas Holding Company (EGAS) said the company received offers for a gas import tender from BP, Vitol, Trafigura, Golar LNG, and three other companies. The official added that a decision on the financial proposals from applying companies will be made this week. The announcement of the final result …
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In a press statement, Ismail said that a delegation from the Egyptian Natural Gas Holding Company (EGAS) was sent to Cyprus to conduct technical discussions on the subject.
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Egypt has ceased exporting gas to Jordan several times this year due to the tense situation in Sinai and multiple explosions on the export pipeline
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The Ministry of Petroleum is looking to increase domestic natural gas usage to ration butane consumption, which makes up a large portion of subsidies on petroleum products.
Production rates will not exceed 4.9bn cubic feet of gas until the end of this year, reflecting the continuing decline in the productivity of wells and small projects connected to the production line
MOPCO, AlexFert, and EBIC were among the affected firms, while Methanex’s Damietta plant has not received gas in over two weeks
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Tarek Shoukry believes the prices of the property units by around 25%.