1H 2026 General Assembly Meeting Activities:

On Monday, September 21st, 2026, the General Assembly meeting of the United Gas Derivatives Company (UGDC) for 1H 2026 was held at the headquarters of the Egyptian Natural Gas Holding Company (EGAS). To review the company’s operational performance and results for the first half of 2026.

The meeting was attended by Eng. Sayed Selim, Executive Managing Director of EGAS; Eng. Wael Shahin, Vice President of BP North Africa; Eng. Andrea Barbieri, General Manager of IEOC Egypt; and Eng. Mohamed Marzouk, Chairman and Managing Director of the Egyptian Natural Gas Company (GASCO).

Eng. Sayed Selim commended the company’s performance during this period, highlighting its role in meeting domestic market needs for gas derivatives, maintaining propane production, and contributing to securing Egypt’s natural gas requirements.

Eng. Islam Basyoni, Chairman and Managing Director, presented the company’s key operational results, which were as follows:

QHSE Performance:

  • The Company continued its journey of strengthening safety performance, recording no fatalities or serious occupational health and safety incidents during the first half of 2026, while maintaining its full commitment to the highest process and occupational safety standards.
  • Achieved tangible progress in its environmental performance, with greenhouse gas emissions falling notably in the first half of 2026 compared to the previous year, as part of its ongoing efforts to shift toward more sustainable energy sources and reduce the environmental impact of its operations.
  • The Company obtained Civil Protection compliance certification for its Damietta terminal facility, and maintained its international ISO certifications in quality, environment, occupational health and safety, energy efficiency, and road traffic safety.
  • Continued to conduct awareness campaigns and forums for employees and contractors, reinforcing its institutional safety culture and reflecting an approach grounded in prevention and the active participation of all employees.

Key Operational Achievements:

The company completed the preparation of the necessary infrastructure and operational facilities at Damietta terminal to receive and operate the floating storage & regasification unit (FSRU) for natural gas, enabling the receipt of 18 shipments of liquefied natural gas (LNG).

Financial:

UGDC Achieved strong financial performance during 1H 2026, with increasing revenues by 29% compared to the same period last year. This growth was supported by initiatives to rationalize spending and improve energy efficiency, resulting in savings of $2 million, while maintaining consistent levels of performance and operational efficiency.

Production:

The Company continues to successfully achieve its founding targets while maintaining production at optimal levels, driven by a commitment to its national and economic role.

The company produced 55,000 tons of propane against a target of 52,000 tons, 39,000 tons of butane against a target of 31,000 tons, and 42,000 tons of condensates against a target of 38,000 tons. These results contributed to a cumulative production of 10.62 million tons of derivatives since operations began in 2005.

Energy Performance:

  • Continued to implement practices and initiatives to enhance fuel efficiency for its Siemens turbines, thereby improving operational performance, supporting energy conservation, emissions reduction goals, and fostering environmental sustainability.
  • The company successfully reduced the Purge gas to flare flow rates by 71.1% without any  investment cost by implementing several improvement measures; this resulted in  a same percent  reduction in annual CO₂ equivalent (CO₂e) emissions.
  • Continuous efforts to improve fuel efficiency led to a reduction in the Energy Performance Indicator (EnPI) from 14.12 million BTU per million cubic feet in 2022 to 10.15 million BTU per million cubic feet by the end of June 2026.

 

These performance results underscore (UGDC) commitment to achieving operational and financial excellence while upholding the highest standards of safety, sustainability, and energy efficiency. Furthermore, the company continues its efforts to meet local market needs and maximize its contribution to Egypt’s energy sector, thereby reinforcing its national and economic role in the period ahead.