NatGas
While a timeline was not provided, the initiatives are part of a larger strategy to foster the transition to greener, more cost-effective transportation solutions and support sustainable economic growth
For businesses located outside of the free zones, the cost of natural gas will still be calculated in Egyptian pounds.
Petroleum Minister Badawi stated, “We are actively collaborating with our partners to foster an environment that encourages expanded production from existing fields and enhances exploration and supply to markets.”
During the General Assembly of the Egyptian Natural Gas Holding Company (EGAS), which focused on the financial results for the fiscal year 2023/2024, the EGAS head shared the biggest achievements in the sector.
Soaring power demands and operational challenges have led to Egypt’s natural gas (NatGas) production levels to plummet to its lowest levels in over 6 years, according to data from the Joint Organizations Data Initiative (JODI)
Two of Egypt’s largest fertilizer companies - State-owned Misr Fertilizers Production Company (MOPCO) and Abu Qir Fertilizers and Chemicals Industries Company (ABUK) - recently suspended production due to natural gas (natgas) shortages
