Egyptian Natural Gas Holding Company
During the General Assembly of the Egyptian Natural Gas Holding Company (EGAS), which focused on the financial results for the fiscal year 2023/2024, the EGAS head shared the biggest achievements in the sector.
Mohamed disclosed the allocation of five new regions for investing in the exploration of natural gas in the Mediterranean Sea and the Nile Delta, necessitating around $400 million.
The company's annual report of the fiscal year 2018/2019 said that 45 gas shipments were exported during the last fiscal year.
The protocol aims at improving and producing prepayment gas meters that are smart and up to the international standards.
Egyptian Natural Gas Holding Company (EGAS) tendered to sell four cargoes of liquefied natural gas (LNG) for loading in April.
Egypt has recently signed several oil agreements for the exploration of oil and gas in several areas, including the Mediterranean and the Gulf of Suez.
EGAS has arranged the delivery of three liquefied natural gas (LNG) cargoes from France’s Engie in the second quarter of 2018.
Egyptian Natural Gas Holding Company intends to issue an international outbidding to explore natural gas and crude oil in 11 concession areas during H1 of 2018.
The company plans to add 39 wells to increase production, and to execute new projects to supply power stations with natural gas, according to the release.
Around $125 million will be directed to waste heat recovery technologies, however, the rest of the loan will be allocated to other projects.
Pilot production from Zohr field has kicked off Saturday, with a production capacity of 300-500 million cubic feet a day, a source at EGAS said.
BP holds 100 percent interest in the concession.
The private sector will not be allowed to reach all types of natural gas consumers after new law becomes effective.
The executive regulations of the New Gas Market Law will be issued before year-end, and the draft has been finished.
Over the previous fiscal year, four gas discoveries were announced in the Mediterranean and Nile Delta regions.
Power plant gas consumption recorded an average of 3.9-4 billion cubic feet per day.
Gas consumption of power plants increased to 4.1 billion cubic feet of gas per day (cf/d) in July, compared to 3.8 billion cf/d last month.
New head for Sidi Kerir Petrochemicals was among the changes.
Electricity plants recorded the highest usage level in the history of natural gas’ usage in Egypt, coinciding the heat wave that happened in the last few days
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