EGAS to Evaluate Gas Projects

EGAS to Evaluate Gas Projects

The Egyptian Gas Holding Company (EGAS) started reassessing the gas projects that will be linked to national grid until the end of 2017. This reassessment aims to study possibilities of providing local demands through the two floating and storage regasification units (FSRU) in Ain Sokhna and Jordan pipeline, reported Al Borsa.

A source with EGAS stated that Egypt’s gas production will reach 5bcf/d by the end of 2017. It will gradually increase until 2020 by linking the production from Zohr field and North Alexandria Concession. He added that Egypt postponed contracting a third FSRU for one month. This delay is pending the Egyptian Ministry of Electricity to decide on its needs of liquefied natural gas (LNG) used for power generation.

Local market’s demand of gas in summer 2017 is estimated at 6.5bcf/d divided into 4.4bcf/d for the consumption of electricity power plants and 1.2bcf/d in residential and cars consumption, in addition to the usage of low consuming factories. The plan is for the government to secure 1.4bcf/d of gas through imports and 5bcf/d of gas from Egyptian local production.

Sarah Samir 2752 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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