Egypt: Madbouly reviews fuel supply plans amid summer demands, regional tensions

Arab Finance: Prime Minister Mostafa Madbouly held a meeting to review Egypt's readiness to secure sufficient supplies of petroleum products and natural gas, particularly for the electricity sector, ahead of peak summer consumption and amid heightened regional tensions following the Israeli military operation in Iran, as per a statement.
The meeting was attended by the Governor of the Central Bank of Egypt (CBE) Hassan Abdalla, the Minister of Electricity and Renewable Energy Mahmoud Esmat, and the Minister of Petroleum and Mineral Resources Karim Badawi.
Madbouly confirmed that the government has a clear action plan to ensure uninterrupted fuel and gas supplies to all sectors, with a focus on meeting the rising demands of power generation during the summer.
He stated that Egypt aims to have three floating storage and regasification units (FSRUs) operational by early July with a combined capacity of 2,250 million cubic feet per day, more than double last year's capacity. Plans are also underway to secure a fourth FSRU as a strategic reserve.
He directed the Ministry of Petroleum to expedite the commissioning of the three FSRUs, referring to existing contracts for gas shipments and mazut fuel reserves as part of the broader strategy to stabilize the supply of petroleum products.
Moreover, Esmat affirmed ongoing coordination with the Ministry of Petroleum to ensure adequate fuel supplies for power plants.
As part of these efforts, Badawi conducted an inspection visit to the national control Center at GASCO to review the status of the national natural gas grid and assess its ability to meet summer electricity demand.
During the visit, the officials reviewed operational plans, available gas volumes, and supply scenarios to maintain stable gas pressure and provide sufficient fuel for expected electricity loads.
Esmat also met with electricity sector leaders to ensure grid stability, optimize fuel use, and direct distribution companies to maintain high alert levels and 24-hour monitoring in coordination with national and regional control centers.
Meanwhile, Badawi reviewed current gas production and strategic stocks of gasoline, diesel, butane, and mazut.
He also reported on the arrival of the third LNG regasification vessel at Ain Sokhna Port and confirmed that its integration into the national grid is underway.
The vessel is a key addition to Egypt's regasification infrastructure, aimed at enhancing the flexibility and security of gas supply.
The petroleum sector continues to monitor fuel availability in real time, working closely with the electricity sector to ensure sustained supply and prevent service disruptions.
The minister stressed the importance of maintaining a robust strategic stockpile of fuel during this period of regional uncertainty.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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