A source with the Egyptian Natural Gas Holding Company (EGAS) stated to Egypt Oil&Gas that starting January 2017, the Ministry of Electricity plans on settling it’s outstanding dues of EGP 60b for gas purchases used in fueling power stations. The overdue debt will be settled in monthly installment of EGP 2m.
Every month, Egyptian power plants consume mazut, natural gas, and diesel products worth EGP 2m. Furthermore, the ministry has requested that the government pumps 80% of Egypt’s natural gas production into power generation to ensure constant uninterrupted-flows of electricity to consumers. The source added that the outstanding dues have no baring on gas supplies to power stations.
In early October Egypt Oil&Gas reported that the Egyptian Ministry of Petroleum had announced that gas consumption of electricity power plants has decreased from 3.7bcf/d to 3.4bcf/d as a result of moderate temperatures during September.