Monday, March 13, 2017

EGAS natural gas imports down since start of 2017 thanks to higher output, lower consumption - ENTERPRISE / AL BORSA

Monday, 13 March 2017

EGAS has cut its imports of natural gas imports to five monthly shipments (equivalent to 700 mcf/d) from eight (800 mcf/d) since the beginning of 2017 thanks to rising domestic production and lower consumption, Al Borsa reports

Imports will rise again to 1.4 bcf/d in May when summertime demand kicks in, according to a top EGAS official. Domestic production is expected to increase to 5 bcf/d from a current 4.5 bcf/d by the second half of the year, before the Zohr field comes online.