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Sunday, 8 May 2016

Egypt’s gas output increased to 3.9 bcf per day for the first time in a year

Meanwhile, Egypt’s natural gas output increased to 3.9 bcf per day this month from 3.8 bcf last, the first uptick in Egypt’s declining output in a year, an EGAS source tells Al Borsa. This increase came on the back of Petrobel bringing two wells online with a combined production of 110 mcf per day. Egypt’s production rate has been falling at a rate of about 100 mcf per month as fields mature, said the source. EGAS imports through the two FSRUs fell this month to 850 mcf per day, down from 1 bcf per day, the source added. EGAS expects peak summer demand to be about 4.3 bcf per day.

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