Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
NATGAS
Egypt’s May natural gas production dropped to the lowest since February 2018 according to JODI data, as the former exporter becomes more reliant on LNG imports to help ease power shortages driven by air-conditioning demand.
- Egypt’s Petroleum Minister Karim Badawi said oil and gas production has dropped by 25% in the past three years partly due to an increase in arrears to foreign oil companies slowing down exploration and development.
- Zohr gas field production has dropped by about a third since 2019, according to Eni.
- Egypt has purchased around 21 LNG cargoes for summer delivery with 5 already received, the oil ministry said on July 15. They have also docked an FSRU at Ain Sokhna which allows for direct gas imports.
- Rolling blackouts in Egypt, that can last for up to three hours a day, will be suspended from July 21 until mid-September, Prime Minister Mostafa Madbouly said.
- Daily power consumption is up 12% from last year, reaching 37.5 GW/d as the government looks to cover additional power demand via renewable energy.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok