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05-Sep-2016

EGAS resumes gas supply to fertiliser companies, including Alexfert and EFC

The Egyptian Natural Gas Holding Company (EGAS) has resumed natural gas supplies to i) EK Holding's [EKHO.CA] Alexandria Fertilisers Company (Alexfert); ii) OCI NV’s [OCI.AS] Egyptian Fertilisers Company (EFC); iii) Helwan Fertilisers; iv) MOPCO; and v) Methanex after the supply had been cut off earlier for 15 to 20 days to cater for the increased demand from power plants during summer. According to the source, EGAS has also started to supply natural gas gradually to Methanex plant after it was shut down for 30 days to conduct its annual maintenance. (Al Borsa)   Egyptian Kuwaiti: USD0.46 as of 04 September 2016, Rating: Buy, FV: USD0.80 per share, MCap: USD471mn, EKHO EY / EKHO.CA   OCI NV: EUR15.59 as of 04 September 2016, Rating: Neutral, FV: EUR17.00 per share, MCap: USD3,669mn, OCI NA / OCI.AS

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