Egypt – Inside days, the Egyptian authorities will launch a global tender to import regarding 15 shipments of liquefied fuel till subsequent October to fulfill the nation’s gasoline wants.
A authorities official who spoke to Bloomberg on situation of anonymity stated that Egypt is working to extend the portions of fuel out there within the nation throughout the second half of this yr, to be able to meet electrical energy wants throughout the summer time months.
The facility outage disaster resurfaced not too long ago, because the authorities determined, following the Eid al-Fitr vacation, to implement a system of lowering electrical hundreds for 2 hours a day, via which they minimize off electrical energy alternately between areas, which is met with widespread discontent.
Egypt additionally minimize off pure fuel provides to fertilizer factories working within the nation, for an indefinite interval, and notified them of this via official letters, based on 4 heads of presidency firms who additionally spoke to Bloomberg.
Egypt is presently witnessing a rise in electrical energy consumption because of the warmth wave hitting the most important Arab nation when it comes to inhabitants, and it’s anticipated to increase till subsequent Tuesday, based on a press release issued by the Meteorological Authority on Thursday.
The Ministry of Electrical energy wants regarding 135 million cubic meters of pure fuel and 10,000 tons of diesel every day to finish the recurring energy outages all through Egypt.
One other summer time of large-scale energy outages would improve strain on a inhabitants already affected by excessive inflation, sharp foreign money depreciation, and excessive home gasoline costs.
Final week, the Egyptian Prime Minister hinted that his nation is searching for to regularly eradicate electrical energy subsidies inside 4 years, and petroleum subsidies by the top of 2025.
Egypt is contemplating buying liquefied pure fuel from the market with the intention of avoiding a gasoline scarcity throughout the summer time of 2024, regardless of the present situations within the Pink Sea, which pose a problem to it.
The transfer might be a serious shift for Egypt, which largely stopped importing liquefied pure fuel in 2018, when the huge Zohr area boosted home manufacturing, turning the nation into an exporter of the gasoline.
It’s noteworthy that the Central Company for Public Mobilization and Statistics not too long ago revealed that Egypt’s pure fuel exports declined by $7.2 billion, equal to 74 %, to report in 2023 a degree of $2.5 billion, in comparison with $9.8 billion within the yr 2022.
Final summer time, excessive temperatures exceeding 35 levels Celsius brought regarding energy outages for one or two hours a day.
Supply: Bloomberg
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2024-06-06 11:32:49