Egypt gas exports drop to 73.4pct
Exports saw a sharp year-on-year decrease in July
Egypt's natural gas exports dropped to 73.4 pct in July as domestic electricity gas consumption increased, according to a report by the state-run Information and Decision Support Centre (IDSC).
The report said the country's gas exports declined from $95.2 million in July last year to $25.3mn in July this year. Meanwhile, natural gas production rose to 3.6mn tons year-on-year compared to 2.99mn tons for the same period last year.
Of that 3.6mn tons of gas 2.9mn tons went for domestic consumption. The electricity sector consumed 65.2% of the produced natural gas rising from 58% a year earlier.
Egypt's exports of crude oil dropped 10% going down from $389.8 mn in 2013 to $350.7mn in July of this year. In May the petroleum ministry forecasted total natural gas production to increase 1.7% and reach 5.4bn ft3 per day in the current fiscal year 2014-2015 compared to the past fiscal year.