Dana Gas debuts gas production in Egypt

21 Oct 2012

(MENAFN) UAE’s Dana Gas announced the beginning of commercial production at a natural gas liquids (NGL) plant in Egypt, through the Egyptian Bahrain Gas Derivatives Co, with the first propane cargo loaded on October 1, Reuters reported.

The Egyptian Bahrain Gas Derivatives Co is a joint venture between Dana’s subsidiary Danagaz Bahrain, the government-owned Egyptian Natural Gas Holding Co and Arab Petroleum Investments Corp.

Dana financed the project, which costs USD125.24 million, through USD86.6 million in cash and USD28.6 million equity.

The company said that the Ras Shukheir plant will produce 120,000 tonnes a year of propane and butane using gas feedstock supplied by Egyptian General Petroleum Corp.

Dana Gas said the plant will market butane inside Egypt and export propane. Residual gas will be supplied to Egypt’s national gas grid.

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