Development in Gas Supply and Prices

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Presentation transcript:

Development in Gas Supply and Prices According to the recent report released by IISD as consultant for the energy pricing study, which is conducted in cooperation between the ministry of petroleum and WB, new figures for the available gas supply as well as prices are released. These include: The local gas supply is expected to be as high as 30% by 2022/2023 compared with the data provided through the studies carried out in early 2016 during the development for the energy strategy for Egypt “TARES” project. The weighted average cost of gas is expected to go from 2.71 US$/MMBTU in 2015/2016 to become 3.92 US$/MMBTU in 2022/2023. This figures is less by 25% than the previous figures reached by ECA back in early 2016. The cost of gas transmission and distribution has been defined at 0.5 US$/MMBTU. Including 0.4 US$/MMBTU for transmission and 0.1 US$/MMBTU for distribution. By compiling the data provided by IISD the development in the Weighted Average Cost of Gas “WACOG” has been calculated. Also based on the expected development in consumption and the current tariff for gas for different consumption purposes, the Weighted Average Price of gas is also calculated. Based on these two figures it can be found that there is no gas subsidy. Considering the development in the WACOG the gas supply price to the electricity sector has been increased to ensure that the WAPOG is covering the cost of gas supply as well as the cost of transmission and distribution. To achieve this, prices to the electricity sector, first block of the residential sector and the gas consumed in transportation as their prices are below the WACOG have been increase gradually. Other sectors which have higher prices are kept fixed.

Breakdown of Gas Consumption Among Different Economical Sectors Gas Consumption for Different Sectors and their Corresponding Tariff in 2015 Breakdown of Gas Consumption Among Different Economical Sectors Sources: Formulated out of; EEHC annual Report 2015; PM decrees on Gas pricing; Integrated Sustainable Energy Strategy 2035