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Thursday, 19 September 2019

Egypt's natural gas exports fell 81% Y-o-Y in April: Report

Natural gas production also down by 14 percent from same period last year, as government looks to improved year in fiscal year starting in July

Ahram Online, Tuesday 17 Jun 2014
Egypt gas pipeline
Egypt gas pipeline (Photo: AO)
Views: 1823
Views: 1823

Egypt's exports of natural gas drastically declined by 80.9 percent in April compared to the same month of last year, according to the latest report on economic and social indicators released by the state-run Information and Decision Support Centre (IDSC).

The report said that Egyptian exports of natural gas in April were worth some $30.5 million, against $160 million in April of 2013.

Natural gas production in the aforementioned period also fell by 14 percent to reach 3 million tonnes, down from 3.5 million tonnes in the corresponding period a year before, IDSC added.

Construction work in new gas fields in Egypt's Western Desert caused a halt in gas production in some places for 10 days, which reduced output by 5 percent, the petroleum ministry said in April.

However, electricity recorded 57.4 percent consumption of the country's total natural gas production in April 2014, representing a 2.7 percent annual rise to meet the demands of the state's power grid and avoid the frequent blackouts that have heavily increased since mid-March of this year.

Meanwhile, the country's exports of crude oil rose 20 percent in April, registering $516.5 million compared to $430 million in the same month a year before, IDSC reported.

Earlier in June, Petroleum Minister Sherif Ismail said that several gas fields in Egypt are expected to start production in the next six months, raising gas production by 500 million cubic feet per day (mcf/d) to reach 5.2 billion cubic feet per day (bcf/d) by December.

In May, the ministry forecasted total natural gas production to increase 1.7 percent to reach 5.4 bcf/d in the coming fiscal year (FY) 2014/15 which starts in July, compared to the current fiscal year.

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