A global bid for natural gas research and exploration will be offered in eleven areas at the beginning of next year, according to a prominent official with the EGAS
official explained that the shale gas exploration agreements differ from others in terms of the duration of concession, which will be in excess of 20 years.
The Egyptian company EGAS
and the Norwegian company Hoegh signed a liquefied natural gas (LNG) agreement on Monday.
He added that since last year, the quantity of gas pumped from EGAS
to the Ikdu liquefaction plant did not exceed 100m cubic feet per day, as a result of the ongoing decrease in natural gas production in Egypt.
needs about $1bn to import gas to power stations throughout the three summer months.
In an effort to reduce power cuts, the Ministry of Electricity and EGAS
have agreed to increase the amount of gas that is pumped to power plants to a maximum of approximately 80m cubic metres per day through the month of Ramadan instead of the customary 75m.
has cut daily gas supply to all cement and fertiliser factories by 567m cubic feet, though these factories are equipped to use approximately 940m cubic feet of gas daily.
The official stressed that EGAS
will be unable to pump more gas than agreed because that amount accounts for 70% of Egypt's gas production during this period.
has stopped pumping to the factory as a result of power plants' growing consumption through the current period, according to Said.
chairman also pointed out that the number of shipments decreased from 21 to 18 due to the two month delay in signing the contract.
Most of EGAS
financial dues are held up by the cement sector, which no longer pay their dues after shifting to mazut.
The rights of young workers are being squandered," Islam El-Kheshen, an EGAS
worker, told Daily News Egypt, explaining the workers' problems with the company's regulations.