Egypt’s natural gas production increased from 4.35bcf/d to 4.45bcf/d in November due to connecting new wells to the national grid to compensate for decline rates in natural gas production, reported Al Borsa.
A source at the Egyptian Natural Gas Holding Company (EGAS) stated that the country added new wells to production with capacity 100mcf/d of gas which boosted the total local production. This comes as electricity power plants reduced gas consumption from 3.32bcf/d to 3bcf/d of gas due to temperature drop.
Thus, Egypt decreased its gas imports to 950mcf/d divided into 850mcf/d as through the two floating storage regasification units (FSRUs) in Al Sokhna Port and 100mcf/d of gas through the FSRU located in Jordon’s Aqaba Port. The source added that EGAS has secured coverage for local gas demands that was estimated at 5.25bcf/d of gas.
In related news, EGAS had estimated Egypt’s local market gas demand to reach 6.5bcf/d within the summer of 2017. This would be divided into 4.4bcf/d of gas for power plants and 1.2bcf/d of gas usage for households, vehicles, as well as medium-to-low consuming factories. The remaining 900mcf/d of gas would be supplied to heavy consuming factories.