SHARJAH: Dana Gas PJSC, the Middle East’s largest private sector natural gas company, will provide an operational update on its Egyptian Bahrain Gas Derivatives Company "EBGDCo" Natural Gas Liquids (NGL) extraction plant at Ras Shukheir, Egypt.
The plant began operating commercially on 1 October 2012. In its first 3 months, the plant has processed a combined 12,340 metric tonnes of Propane (10,500) and Butane (1,840), the company stated in a release.
The NGLs, which Dana Gas extracts from the main gas flow, provide an additional revenue stream. Total additional revenue from NGL sales to date is US$ 7.7 million, of which Dana Gas has used US$2.8 million to repay the first instalment of the project’s development financing. NGLs extracted at Ras Shukheir are exported to international customers.
The EBGDCo is a Natural Gas Liquid (NGL) extraction plant based in Ras Shukheir, Egypt. Its main activities are gas processing and marketing of liquid propane and butane to local and international markets. The total cost of the project was AED 460 million, which was partly funded through AED 318 million of project finance and AED 105 million of equity, with the remaining to be funded through internal revenue. (QNA)