EGAS Floats Tender to Import Gas

The Egyptian Natural Gas Holding Company (EGAS) has issued a tender to import 1 billion cubic feet per day of natural gas, Egypt Independent reports.

The tender has been issues to 22 Egyptian and international companies in order to meet the electricity sector’s growing needs, adding that four new power plants would be opened as summer begins, the news report said citing company statement.

Analysts estimate the shortfall in the amount of natural gas required for the domestic at 1 billion cubic feet daily.

The statement added that companies wishing to supply gas should submit bids by 24 March 2013. The gas will be imported through Ain Sokhna Port.