EGAS to Export 150mcf/d of Gas

EGAS to Export 150mcf/d of Gas

The Egyptian Natural Gas Holding Company (EGAS) plans to export 150mcf/d of gas through Edco Liquefaction Factory owned by Royal Dutch Shell, reported Al Borsa. A source from EGAS stated that the company agreed to increase the amounts exported via Edco gradually during the winter.

Egypt had been planning to restart LNG exports following a deal with Shell in mid-September to send 3.54mcm/d to Edco from the company’s gas fields to compensate for some of the rising debt Cairo owes to it in receivables,  informed Interfax Global Energy.

Furthermore, EGAS spokesperson, Enas El Sheikh, had stated that supplies to the Edco plant were due to be increased. The higher volume was less than the 32mmcm/d originally contracted.

This comes as Egypt’s daily production of natural gas is expected to increase from 4.39bcf to 4.5bcf by the end of 2016 after adding new wells to production which compensates the natural decline in well output.

Egypt Oil&Gas reported in September the Egyptian General Petroleum Corporation (EGPC) had paid $480m in loan dues for Shell’s Edco gas liquefaction factory since the facility halted operations in 2012. A source from EGPC added that Edco paid $200m dues to British Gas on annual basis as installment payments on a $2b loan.

Sarah Samir 3057 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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