Gas supply crisis to end by Nov: PM
Prime Minister Sherif Ismail - YOUM7

CAIRO: Prime Minister Sherif Ismail has pledged to end the gas shortage suffered by factories during October and November, Chairman of the Federation of Egyptian Industries Mohamed el-Sewedy told Youm7 Tuesday.

Sewedy said that Ismail held an urgent meeting with the FEI over obstacles facing the industry sector.

“The meeting discussed a number of topics, including developing exports and countering smuggling; the prime minister stressed the importance of improving technical education and vocational training to create highly trained technical labor,” he added.

In April 2014, the government reduced the amounts of natural gas supplied to factories by 25 percent, according to the Chairman of the Holding Company for Natural Gas Khaled Abdel-Badei.

At August-end, Italy’s energy company Eni SpA announced the discovery of a “supergiant” natural gas field in Egypt’s Mediterranean, with a potential 30 trillion cubic feet of gas over an area of 100 square kilometers.

The International Monetary Fund stated earlier this month that Egypt’s major natural gas discovery has the potential to improve its energy position and will contribute “broadly” to its economy.

Moreover, Reuters reported in September that a second liquefied natural gas (LNG) import terminal arrived in Egypt without cargo and will start operating in the third week of October.

The first floating storage and regasification unit (FSRU) was from the Norwegian Hoegh and it arrived in Egypt in April.

The FSRU will receive 42 shipments of LNG yearly, each of about 140,000 to 170,000 cubic meters of gas; a petroleum ministry official was quoted by Daily News Egypt in July.

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