Egypt negotiates with Russia, Algeria to get 12 liquefied gas freights:Minister

CAIRO: The Ministry of Petroleum is currently negotiating on getting 10-12 liquefied gas freights from Russia and Algeria in a bid from the government to meet the citizens’ growing needs and achieve energy security, said Minister of Petroleum Sharif Ismail, Al-Watan reported Wednesday.

“Besides meeting the citizens’ growing needs, a tangible quantity of these freights will be directed towards electricity plants to overcome the current shortage in electricity supply along with overcoming the frequent power cuts”, he added.

In a related story, Ismail announced that Egypt’s natural gas production will witness a 60-million foot hike during the coming four days by intensifying usage of current active wells, Amwal al-Ghad news gate reported Wednesday.

220 million cubic feet will be added during September and another 235 million cubic feet in October, he disclosed, pointing out that, “These amounts of natural gas will be from restructuring old wells and using more new wells,” he said.

“The will-pumped amounts of natural gas will act as an urgent solution for overcoming the electricity crisis and avoiding frequent power cuts”, he noted.

To ensure the continuation of oil excavation in Egypt along with getting the contracted freights from international petroleum firms, Ismail noted Wednesday that the ministry is to repay $1.5 billion during the next September, Al Borsa business daily reported.

Over the past few months, Egypt is suffering a shortage in electricity supply and frequent power cuts due to a lack in oil supply and shortage from the long-dated electricity stations, Youm7 reported in March.

The return of a power cut crisis across Egypt caused uproar among citizens; especially after government officials confirmed that the crisis will not end any time soon.

In related news, Ismail told al-Masry al-Youm July 12 that Egypt’s daily consumption of oil products including natural and liquefied gas reached up to 2.1 million barrels, which left more than 500.000 barrels of shortage daily, he said, pointing out that Egypt tends to import more quantities along with encouraging national discovery to reimburse the shortage.

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