The company confirmed in its statement today: “We would like to inform you of the return of gas supplies and the operation of the company’s factories.”
Earlier, the company announced the suspension of Alexandria factories due to unstable gas supplies.
The company indicated in its previous statement that the heat wave, which exceeded the normal rates expected for this period of the year, caused an unprecedented increase in energy consumption rates, coinciding with the cessation of some regional gas supply sources, which negatively affected the gas network inventory.
The company explained that in order to avoid any damage to the company’s factories due to these operating conditions, it was decided to stop natural gas supplies to them until the network’s operating conditions improve.
Abu Qir Fertilizers and Chemical Industries Company announced that natural gas supplies had been resumed and the company’s factories had begun gradual operation, according to a statement sent Tuesday to the Egyptian Stock Exchange.
Egypt is suffering from a shortage of gas supplies that has led to a wave of power outages and the forced temporary closure of chemical and fertilizer factories.
The Egyptian Natural Gas Holding Company (EGAS) has requested the delivery of 17 LNG cargoes, including 7 cargoes in July, 6 in August, and 4 in September on a delivered-ex-ship (DES) basis, with deferred payments of up to 6 months.
Natural gas supplies that help Egypt generate electricity have dwindled as its population of 106 million and urban growth have increased energy needs, while higher demand for cooling during the summer has led to increased consumption, according to Reuters.
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2024-07-05 08:03:10
