Egypt will slide into a gas deficit in the next fiscal year, as the country’s industry cries foul over Cairo’s plans to encourage the private sector to import additional gas.
The Petroleum Ministry’s forecasts that production of natural gas will average at 5.4bn cfd for the July 2014-June 2015 fiscal year, less than a predicted consumption of 5.57bn cfd. In the absence of import infrastructure it is unclear where the additional gas would come from. (CONTINUED - 533 WORDS)
