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Egypt's gas production and exports drop significantly in Jan 2014 Natural gas production was down 10 percent in January, dropping exports revenues by 60 percent, according to the IDSC
Natural gas production in Egypt decreased by 10 percent in January 2014 recording 3.3 million tonnes, as compared to the same period of the previous year, according to the latest report on economic and social indicators released by the state-run Information and Decision Support Centre (IDSC). However, local consumption was not affected much, decreasing by 1.6 percent during the same period to stand at 3.1 million tonnes. Exports revenues ($62.2 million) fell by almost 64 percent, revealing a sharp drop in quantities exported. The majority of Egypt's local natural gas consumption is in power generation. In recent weeks, Egypt has witnessed frequent power cuts that the government mostly justifies as due to natural gas shortages. According to the IDSC, energy production in February increased by 5.1 percent, as compared to the same month last year, but consumption increased by 6.6 percent. The government recently announced that it was preparing to import natural gas beginning in August, as it is finalising a deal to buy a floating unit to re-gas a Liquid Natural Gas (LNG) unit based in Ain Sokhna. The government also plans to launch a tender for 2015, as it will need to import natural gas for three to five years until the country can restore its previous levels of production. http://english.ahram.org.eg/News/98424.aspx
