The Israeli news website nziv said that the Egyptian Ministry of Petroleum and Minerals wants to increase natural gas imports from Israel by about 10% during the month of November, in order to meet the local market’s needs for gas needed for power stations and industry.
The Hebrew website explained that the required increase in daily Israeli gas imports to Egypt amounts to about 100 million cubic feet per day, bringing the total flow to about 1.15 billion cubic feet in November.
The Hebrew website’s report explained that the scope of Egypt’s imports of Israeli natural gas changes on a monthly basis and is not fixed, as daily flows reached between 950 and 970 million cubic feet at the end of last September, then increased at the beginning of this October, and ranged from 1 to 1,050 billion cubic feet per day. An increase of between 50 and 80 million cubic feet compared to last September.
The Hebrew website pointed out that during a conference held last Wednesday by Egyptian Prime Minister Mostafa Madbouly and Egyptian Minister of Petroleum Karim Badawi, they reviewed the measures aimed at increasing Egyptian natural gas production, which include procedures for paying the monthly bill to international partners in order to ensure the return of increased exploration work. And production.
Egyptian Oil Minister Karim Badawi said that natural gas production in Egypt decreased by about 20% to 25% during the past two years, which prompted the country to take incentive measures to support partners in development programs and targeted drilling and exploration programs.
The official pointed out that Egypt’s daily needs for natural gas reach about 6.2 billion cubic feet per day, while its daily production reaches about 4.8 billion cubic feet.
The Egyptian Ministry of Petroleum aims to increase its production of natural gas by the end of the year to about 5 billion cubic feet per day.
According to the official, the Egyptian government compensated for part of the local market gap through external contracts, as Egypt obtained about 26 shipments of liquefied gas during the summer, specifically in the third quarter of the year, in addition to the daily flows from Israel.
Egypt purchased about 20 shipments of liquefied natural gas in its first tender to cover winter demand, especially in the last quarter of the year, and the Egyptian Ministry of Petroleum obtained all the quantities it was looking for at prices lower than expected.
It was reported that the capacity of Egyptian gas liquefaction stations is capable of receiving more gas from abroad to meet the increase in local demand for gas, especially in light of the high gas consumption of Egyptian power stations in the summer months.
There are two natural gas liquefaction plants in Egypt, the first in Adecco, owned by the Egyptian LNG Company, and includes two liquefaction units with a capacity of about 1.35 billion cubic feet per day of natural gas, and the second in Damietta, owned by the Italian company Eni, the Egyptian Natural Gas Holding Company (EGAS), and the Egyptian Natural Gas Holding Authority (EGAS). Egyptian Petroleum, which includes only one unit with a capacity of about 750 million cubic feet per day.
Egypt began importing gas from Israel for the first time in 2020, in a deal worth $15 billion between Noble Energy – which was acquired by Chevron in 2020 – and Delek Drilling Company on the one hand, and the Egyptian Dolphin Holding Company on the other hand.
Source: nziv
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