Power plants consumption of fuel worth $450mn per month: Oil minister

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The total volume of power plants consumption of fuel is estimated at 3-4 billion Egyptian pounds (US$450 million) per month, petroleum minister Tarek El-Molla told Amwal Al Ghad Wednesday.

He added that oil sector is committed to cover power plants needs of fuel notably natural gas and mazut despite the current rise in consumption rates.

El-Molla clarified that electricity ministry is paying part of the total cost of consumed fuel and postpones paying around one billion pounds monthly.

The minister noted that new power plants that would start operating within the coming period would participate in boosting state’s public consumption of natural gas. Thus, the government would import more Liquefied Natural Gas (LNG) shipments to be pumped into the national grid.

Minister El-Molla pointed out that the regasification boat in Ain Al Sukhna port supplies massive amounts of gas to the grid to be provided to different power plants all over Egypt.

Egyptian Natural Gas Holding Company (EGS) is plans to import additional amounts of LNG to be injected into factories, the minister added.