Egypt’s petroleum consumption declines 8mln tonnes in four years - ZAWYA

13 DECEMBER, 2019

Cairo – Egypt’s domestic petroleum consumption has declined in four years, as a result of the implementation of reforms to the pricing structure of petroleum products, according to petroleum minister Tarek El Molla.

Domestic consumption was 31 million tonnes during the year 2018/2019, compared with 39 million tonnes in the year 2015/2016, El Molla said in a Thursday statement.

This came as a result of the state’s reform programme, which reduced petroleum imports to 12 million tonnes, from 16 million tonnes.

Over the past years, challenges lied mainly in the steady growth of domestic demand, higher value of subsidies, and the need to ramp infrastructure development spending.

The minister’s remarks came during a visit to Zohr field, accompanied by a parliamentary delegation, including energy and environment committee members and executives of petroleum companies.

Botas LNG purchase tender seeks US, Russian supply - OIL & GAS EURASIA

01.NOV.2019

Turkey’s Botas issued a tender to purchase 70 cargoes of LNG (liquefied natural gas) for delivery over 2020-2023, two days after the US lifted sanctions.

The US imposed sanctions earlier in October in response to Turkey’s military offensive in northern Syria. The LNG tender will close on Nov. 8.

Heavily dependent on pipeline gas imports from Russia, Turkey is aiming to reduce Russian imports and diversify its gas sources. It has already reduced flows from Russia’s Gazprom significantly this year, while increasing LNG purchases and gas imports from Azerbaijan.

Botas buys LNG on a long-term basis from Nigeria and Algeria. The contract with Nigeria expires in 2021, while a deal with Algeria’s Sonatrach runs until late 2024. There is also a mid-term contract with Qatargas expiring next year.

The degree to which Turkey will increase its LNG imports depends however on price. The Turkish news site yenisafak.com quoted Danila Bochkarev, a senior fellow at the EastWest Institute, as saying: “LNG should be cheaper than pipeline gas in order to gain an additional share of the Turkish market.”

Oil, Gas Production Reaches 6.8 MM Tons - EGYPT OIL & GAS

Thursday, 27th June 2019

The total production of oil and natural gas reached 6.8 million tons in 2019, compared to 6.1 million tons during the same month in 2018, Egypt Oil & Gas reports.

Data by the Central Agency for Public Mobilization and Statistics (CAPMAS) showed that the total consumption of petroleum and natural gas reached 6.1 million tons during April 2019, up from 6 million tons for the same month a year earlier.

Moreover, the consumption of petroleum products and natural gas reached 79.1 million tons in fiscal year (FY) 2017/2018.

CAPMAS indicated that the quantity of emissions from the consumption of petroleum products and natural gas reached 206.8 million tons in FY 2017/2018, down from 210 million tons in FY 2016/2017, with a decrease of approximately 1.5%.