Egypt Edition 2 Bg Egypt
MARKET Natural gas is a commodity that is in demand all around the world for both the economic and the environmental benefits that it can provide. Globally, markets are being liberalised, technologies are improving and gas is being put forward as the fuel of choice. The world’s need for energy is increasing and BG Group, as an Integrated Gas Major, is well placed to take advantage of the opportunities available by drawing on its skills across the gas chain. It is anticipated that Egypt’s domestic demand for gas will grow at about 9% per annum in the near future, an expansion that is driven largely by power generation. Egypt is also expected to play a vital role in the Liquefied Natural Gas market by acting as a regional LNG hub. BG is a major shareholder in the Egyptian Liquefied Natural Gas (ELNG) project in Idku, which was successfully completed in 2005 in record time and has helped Egypt to benefit from high gas prices in the US and Europe. ELNG is a US$1.9 billion two train project creating a trade worth US$1 billion dollars per year for Egypt. With both the ELNG project and Damietta LNG coming on stream, Egypt is now the sixth biggest LNG exporter in the world.
ACHIEVEMENTS Egyptian LNG (ELNG) started operations in May 2005. The project set a new industry benchmark having taken six years from first gas discovery to first LNG cargo. Train 1 came on stream three months ahead of schedule and Train 2 started nine months ahead of schedule. In addition, the project won Gas Deal of the Year 2005 award in
the Europe, Middle East and Africa category of Project Finance International. BG Egypt has one of the most successful exploration records in Egypt, with seventeen
PRODUCT
successful exploration and appraisal wells in WDDM since 1997. BG Egypt has discovered some 13 tcf (trillion cubic feet) of gas in the Rosetta and West Delta Deep Marine (WDDM)concessions offshore the Nile Delta. The safe delivery of projects and operation of facilities is a critical success factor for BG Group. BG Group’s goal is zero injuries.
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Egypt is a core part of BG Group’s global portfolio and a cornerstone of its Atlantic Basin LNG strategy. BG Group is also one of the largest investors in Egypt’s natural gas business. BG Egypt’s activities span the gas chain from exploration, through development and production, to downstream projects in LNG and gas distribution. BG business in Egypt comprises: • Operatorship of two gasproducing areas offshore the Nile Delta – the Rosetta Concession and the WDDM Concession : • Operatorship of three other concessions offshore the Nile Delta – El Manzala Offshore, El Burg Offshore ; and North Sidi Kerir Deep: • Production of gas from the Rosetta Concession supplying the Egyptian domestic market at a
HISTORY BG Egypt is part of BG Group and has been active in Egypt since 1989. Although BG Group is a relatively youthful brand it draws on the heritage of over 100 years experience in natural gas. In February 1997, the shareholders of the former utilities company, British Gas plc, approved the demerger of Centrica plc with British Gas plc being renamed BG plc. In December 1999 BG plc completed a financial restructuring which resulted in the creation of a new parent company, BG Group plc. In October 2000 BG
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Group plc completed the demerger of Lattice Group plc (now part of National Grid Transco) creating two separate companies.
daily contracted quality (DCQ) of 345 million standard cubic feet per day (mmscfd): • Production of gas from the Scarab Saffron fields in WDDM supplies the Egyptian domestic market. On 1 January 2005 the DCQ rose to 626 mmscfd. From start up of the Damietta LNG facility in the first quarter of 2005, Scarab Saffron supplied the domestic market with a minimum of 475 mmscfd and will process 225 mmscfd through the Damietta LNG facility for five years. BG and Scarab Saffron partner Petronas will lift the equivalent volume of LNG; • Production of gas from the Simian Sienna and Sapphire fields in WDDM, supplying Egyptian LNG Train 1 at 565 mmscfd and Egyptian LNG Train 2 at 565 mmscfd and
SUPERBRANDS
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ACHIEVEMENTS Egyptian LNG (ELNG) started operations in May 2005. The project set a new industry benchmark having taken six years from first gas discovery to first LNG cargo. Train 1 came on stream three months ahead of schedule and Train 2 started nine months ahead of schedule. In addition, the project won Gas Deal of the Year 2005 award in
the Europe, Middle East and Africa category of Project Finance International. BG Egypt has one of the most successful exploration records in Egypt, with seventeen
PRODUCT
successful exploration and appraisal wells in WDDM since 1997. BG Egypt has discovered some 13 tcf (trillion cubic feet) of gas in the Rosetta and West Delta Deep Marine (WDDM)concessions offshore the Nile Delta. The safe delivery of projects and operation of facilities is a critical success factor for BG Group. BG Group’s goal is zero injuries.
eg_16-17.indd 2
Egypt is a core part of BG Group’s global portfolio and a cornerstone of its Atlantic Basin LNG strategy. BG Group is also one of the largest investors in Egypt’s natural gas business. BG Egypt’s activities span the gas chain from exploration, through development and production, to downstream projects in LNG and gas distribution. BG business in Egypt comprises: • Operatorship of two gasproducing areas offshore the Nile Delta – the Rosetta Concession and the WDDM Concession : • Operatorship of three other concessions offshore the Nile Delta – El Manzala Offshore, El Burg Offshore ; and North Sidi Kerir Deep: • Production of gas from the Rosetta Concession supplying the Egyptian domestic market at a
HISTORY BG Egypt is part of BG Group and has been active in Egypt since 1989. Although BG Group is a relatively youthful brand it draws on the heritage of over 100 years experience in natural gas. In February 1997, the shareholders of the former utilities company, British Gas plc, approved the demerger of Centrica plc with British Gas plc being renamed BG plc. In December 1999 BG plc completed a financial restructuring which resulted in the creation of a new parent company, BG Group plc. In October 2000 BG
16
Group plc completed the demerger of Lattice Group plc (now part of National Grid Transco) creating two separate companies.
daily contracted quality (DCQ) of 345 million standard cubic feet per day (mmscfd): • Production of gas from the Scarab Saffron fields in WDDM supplies the Egyptian domestic market. On 1 January 2005 the DCQ rose to 626 mmscfd. From start up of the Damietta LNG facility in the first quarter of 2005, Scarab Saffron supplied the domestic market with a minimum of 475 mmscfd and will process 225 mmscfd through the Damietta LNG facility for five years. BG and Scarab Saffron partner Petronas will lift the equivalent volume of LNG; • Production of gas from the Simian Sienna and Sapphire fields in WDDM, supplying Egyptian LNG Train 1 at 565 mmscfd and Egyptian LNG Train 2 at 565 mmscfd and
SUPERBRANDS
12/17/06 1:31:06 PM
