Monday Minutes: Economic Snapshot
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
News / Egypt
Egypt to Add 10.5 M Households to Gas Grid End of 2019
The country has linked a total of 9.6 million households to the national gas grid so far since the project's initiation to the beginning of 2019.
Egypt Signs 32 PPAs for Solar Energy
Egypt has signed 32 power purchasing agreements (PPAs) for solar energy projects that are being conducted in Benban, Aswan to develop the biggest solar energy park in the world.
Electricity Ministry Estimates Gas Demands at 4.4 bcf/d in Summer
The consumption of electricity-generating plants increased gradually to reach the current 3.4 bcf/d, compared to 3.3 bcf/d consumed in March.
Egypt Invests $11 B in Ain Sokhna Petrochemical Complex
The complex is considered to be the biggest petrochemical project in the Middle East with an investment cost of $10.8 billion.
Egypt Increases Gas Production to 6.9 bcf/d
Egypt's natural gas production increased by around 300 mmscf/d, reaching around 6.9 bcf/d.
Baltim Field to Add 500 mmscf/d of Natural Gas
Development projects as well as the field's completion will directly contribute to commencing the production from Baltim field by Q3 2019.
El Sewedy Electric to Build Substations in Port Said
The new turnkey contract is an EPC agreement with EGP 550 million of total value.
Eni to Add 3 Zohr Wells to Production
The company will complete drilling the field's 15th well in April, and with new wells being drilled and production starting by the end of May, the number of the natural gas producing wells will be boosted to 11.
Cypriot House Ratifies Natural Gas Pipeline Agreement with Egypt
The Cypriot House of Representatives approved the agreement between Egypt and Cyprus to establish a natural gas subsea pipeline between the two countries.
