Petrogas CEO, Adel Al Sheikh, stated that the company will increase the supply of butane gas by 100,000 tanks/d to reach 1.5m tanks/d, reported Al Mal News.
He added that Petrogas received a number of complaints from various areas within Egypt because of traders who monopolize butane tanks on the black market, with the selling price of a single tank reaching EGP 40. He concluded that increasing supply of butane pumped into the market will combat black market tactics and curb price gouging, with the recent arrival of a 5,200 ton cargo of butane at Suez port.
Egypt’s annual consumption of butane is estimated at 4m tons, 50% of which is produced locally and 50% imported through international agencies via tenders issued by the Egyptian General Petroleum Corporation (EGPC). Petrogas supplies the local market with 60% of butane demand.