Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  SANTIAGO STOCK EXCHANGE  >  Gasco SA    GAS   CLP3091H1096

GASCO SA (GAS)
My previous session
Most popular
  Report  
SummaryNewsCompany 
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweets
OFFRE

GASCO : to transport gas from Raven field to Western Desert Gas Complex

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/13/2018 | 06:31pm CEST

One of GASCO's natural gas projects - Company's website CAIRO13 March 2018: The Egyptian Natural Gas Company (GASCO) is planning to transport gas from the Raven field in the North Alexandria Concession to the Western Desert Gas Complex, according to a company’s statement.

Petroleum Minister Tarek el-Molla said that projects are currently being implemented to upgrade and develop the national gas grid to meet the growing demand and cope with the changes in the gas industry in Egypt.

He said that the grid also plays a pivotal role in transforming Egypt into a regional energy hub.

This came during a meeting chaired by Molla to approve the 2017 results of GASCO. Molla called on the fair distribution of the grid in southern Egypt to meet Upper Egypt’s demand in the coming period.

During the meeting, GASCO head Hisham Radwan said that the company distributed 58 billion cubic feet of gas to different sectors in the local market in addition to adding 14 new customers, bringing the total company’s customers to 527 by the end on 2017.

Concerning the development of the natural gas grid, Radwan said that his company completed the projects needed for the test operation for the three Siemens power plants.

Radwan added that the company has connected gas to a number of industrial areas, adding that production from the Western Desert Gas Complex and LPG plant in AL-Amreya helped in providing the market with 605,000 tons of LPG and providing the petrochemicals industry with one million tons of ethylene and polyethylene mix.

Egypt is seeking to boost its natural gas production through a number of projects. Egypt’s production of natural gas increased in December 2017 to reach 3.4 million tons, up from 2.7 million tons in December 2016, an official source in the petroleum sector said recently.

The increased production came on the back of starting production from four main fields, including West Delta’s Taurus and Libra fields as well as Atoll and Zohr gas fields.

Egypt’s gas production currently stands at 5.5 billion cubic feet a day, after adding some 1.6 million cubic feet as a result of starting production from the aforementioned projects.

The country's total natural gas consumption is about six billion cubic feet per day, of which roughly 65 percent goes to the electricity sector.

The new discoveries are expected to turn Egypt into a net exporter of natural gas as the country is expected to halt gas imports by mid 2018.

(c) 2018 Egypt Today. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GASCO SA
08/09GASCO : Egypt, Jordan probe boosting petroleum cooperation
AQ
08/08GASCO : Egypt, Jordan probe boosting petroleum cooperation
AQ
07/30GASCO : profit falls in Q2, H1
AQ
07/21GASCO : Kentucky PSC Issues Order Involving Gasco Distribution Systems
AQ
06/174TH CIR. : Jury‘s mistaken contract finding upheld
AQ
06/03GASCO : OKs moving SAR 20m to retained earnings
AQ
05/10GASCO : M&A Advisor Names Benchmark International Winner of North American Deal ..
AQ
05/09GASCO : Saudi GASCO inks SAR 242.5m land lease contract with RAKAA Holding
AQ
05/07GASCO : profits drop 40% in Q1 on lower sales
AQ
04/27GASCO : Tadawul suspends trading on GASCO stock
AQ
More news
News from SeekingAlpha
2015Investors pulling the plug on utilities as Treasury yields rise 
2015AGL Resources misses by $0.15 
2015Notable earnings after Wednesday's close 
Managers
NameTitle
Ricardo Cruzat Ochagavía Vice Chairman & Chief Executive Officer
Matías Pérez Cruz Chairman
Hernán Errázuriz General Manager-Finance
José Ignacio Laso Bambach Director
Carlos Rocca Righton Director
Sector and Competitors
1st jan.Capitalization (M$)
GASCO SA0
NATURGY ENERGY GROUP23.06%27 849
CHINA GAS HOLDINGS LTD8.08%15 228
GAIL INDIA LTD3.81%12 189
TOKYO GAS CO LTD5.53%11 052
ATMOS ENERGY CORPORATION8.64%10 454