Shell and Egypt agree on repricing of Phase 9C gas
Shell and Egypt’s Ministry of Petroleum and Mineral Resources have reached an agreement on gas procing for one of Shell’s fields in the North African country. The two parties agreed to re-price gas produced in phase 9C from Burullus field, which came to Shell when it acquired BG.
The repricing pegs phase 9C at the same pricing as phase 9B of the Burullus field and will range from between $2.50 and $5.88 per thermal unit a Al Borsa News report said.
Shell and the ministry also reached an agreement that will allow for Shell to export an estimated 125 Mcf/d through the Idku LNG facility. The facility has been idle for two years and it is unclear what maintenance will be required for the plant to begin exporting again.
(Source: Petroleum Africa)