Arab Finance: Abu Qir Fertilizers and Chemical Industries Company is facing a 33% reduction in natural gas supplies, deepening a 20% cut introduced earlier this month, according to a company disclosure.
Responding to reports of larger supply cuts to fertilizer plants, the company said the new reduction took effect at noon on Sunday, November 8. The earlier cut had been in effect since Sunday, November 1.
Abu Qir Fertilizers has introduced technical and operational adjustments to accommodate the reduced supplies, with two of its three plants set to operate at full production capacity. Operating loads are being redistributed among production units to make the best use of the available gas and maximize value added.
The company also confirmed that its production and operational activities remain ongoing in line with the available natural gas supplies.
A day earlier, Misr Fertilizers Production Company (MOPCO) cut 33% of its natural gas supplies. The fertilizer producer issued the clarification in response to ongoing discussions about the continued reduction in gas deliveries to the company.
Last week, Egyptian Chemical Industries (Kima) implemented a directive from its natural gas supplier to reduce gas intake by 20%, effective from noon on November 1.
