GASCO Mulls $605m Investment in Gas Projects

GASCO Mulls $605m Investment in Gas Projects

The Egyptian Natural Gas Company (Gasco) is considering a project that will aim at transporting gas from Raven gas field in the North of Alexandria concession to a gas complex located in Western Desert and to a cooking gas extraction factory located in El Ameriya, according to Gasco Chairman, Karem Mahmoud. The project’s initial costs are estimated at $105m. The project is scheduled to start operation in mid 2019 with the volume of 450mcf/d of transported gas, reported Al-Borsa News.

The Chairman further added that currently 900 mcf/d of Western Desert gas is processed at the complex, together with 3,200 tons/d of ethane-propane transported to SIDPEC company, 1,100 tons/d of commercial propane that is exported overseas. In addition, 1,600 tons/d of cooking gas is  processed at the complex and 2,800b/d of condensate is transported to refineries in Alexandria.

In addition, Gasco is also studying the investment plan of $500m for the second phase of a project to increase the Western Desert gas complex production of ethane-propane mix, informed Energy Egypt. The Chairman reiterated that the new project started last June aiming to increase ethane-propane by 120 tons daily, at the cost of $15m and EGP 15m in order to cover further needs of SIDPEC company.

Sarah Samir 3289 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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