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DUBAI –– Dana Gas said on Saturday its Egyptian affiliate had started commercial output at a natural gas liquids plant in the North African country, with the first propane cargo loaded on 1 October.
The Egyptian Bahrain Gas Derivatives Company is a joint venture between Dana's subsidiary Danagaz Bahrain, the government-owned Egyptian Natural Gas Holding Company and Arab Petroleum Investments Corp.
The Ras Shukheir plant will have a production capacity of 120,000 tons a year of propane and butane using gas feedstock supplied by Egyptian General Petroleum Corporation.
Dana said the project cost 460 million UAE dirhams (US$125.24 million), funded through a 318 million durhams of project finance and 105 million durhams of equity.
Dana Gas said the plant will market butane inside Egypt and export propane. Residual gas will be supplied to Egypt's national gas grid.