Industry sources recently revealed that Egypt’s natural liquid gas plant, valued at $200 to $300 million, will begin operations in 2003.
The plant, currently under construction off Egypt’s Mediterranean coast, will produce an estimated 1.1 billion cubic feet of natural gas daily, and an additional 300,000 metric tons of butane and propane a year, according to Platt’s News.
An agreement signed in October of 2000 by British Petroleum, the Egyptian Natural Gas Company and IEOC laid the groundwork for the future plant.
Once operations begin, the plant is expected to help stabilize the nation’s balance of payments, as local consumption of propane and butane in Egypt runs high. –(Mena Report)
© 2001 Mena Report (www.menareport.com)
