Egypt Daily News - Shares of fertilizer companies in Egypt dropped at the start of trading on Tuesday, after Abu Qir Fertilizers Company announced the cessation of work in its three factories, and other factories also stopped work, according to information obtained by Al-Sharq.

Abu Qir Fertilizers Company said in a disclosure today that the gas supplies coming to its factories were affected by the hot weather wave that led to an unprecedented increase in energy consumption rates in the country, coinciding with the cessation of some regional gas supply sources.

The crisis of gas directed to fertilizer factories began earlier this month, as these factories are witnessing a complete or partial cessation of supplies due to a shortage of gas supplied by the Egyptian Natural Gas Holding Company, according to statements by 3 officials from fertilizer companies.

Cutting off natural gas from fertilizer factories that consume the most as feedstock, and those that produce urea in particular, comes at a time when the Ministry of Petroleum is trying to increase the quantities supplied to power stations to contribute to meeting the needs of consumers.

The Ministry of Electricity needs about 135 million cubic meters of gas and 10 thousand tons of diesel daily, until the recurring outages end and electrical loads are reduced throughout Egypt.