6 ounces egg substitute (equivalent of 3 large eggs)
14-ounce can nonfat sweetened condensed milk
1 1/2 cups skim milk or low-fat soy milk
1/2 tablespoon pure almond extract
1/2 tablespoon pure vanilla extract
Preheat oven to 325 degrees. In a small heavy saucepan, bring water and sugar to a boil, stirring until sugar is dissolved. Boil syrup, without stirring, until golden caramel. It is important to not stir, but okay to tilt and swirl syrup around in pan to help it cook evenly. Pour caramelized sauce into a 1 1/2 quart souffle dish or Pyrex pie plate, tilting to coat bottom and some of side with caramel syrup. The syrup will harden in the dish as it cools. In a large bowl, whisk together egg substitute, condensed milk, skim milk, almond extract, and vanilla extract until smooth. Pour over hardened syrup in souffle dish. Put dish in a roasting or large baking pan and add enough hot water to pan to reach halfway up outside of dish. Bake flan in middle of oven 1 1/4 hours, or until just set but still trembles slightly. Flan will set as it cools. Remove flan dish from roasting pan and cool on wire rack. Chill flan in refrigerator, covered, at least 4 hours or up to 1 day. Before serving, dip dish in a baking pan of hot water 3 seconds. Run a thin knife around edge of dish and invert flan onto plate. The caramelized syrup should now be on top (like a pineapple upside-down cake).
Serves 6 each serving has about 300 calories and 2 grams of fat (7% calories from fat).