Marine Link
Friday, August 18, 2017

Egypt to Cut Down on LNG Imports

August 13, 2017

Photo: Egyptian LNG

Photo: Egyptian LNG

 Egypt is planning to import 80 cargoes of liquefied natural gas during the 2017-18 financial year that began in July, down from the 118 cargoes imported last year.

 
Reuters reported that Egypt has been trying to speed up the development of recent gas discoveries with a view to halting imports by 2019.
 
The report quoted Petroleum Minister Tarek El Molla saying that the country was  planning to import 154 cargoes of LNG in 2016-17 but it only imported 118 cargoes because of the increase in local gas production.
 
Egypt expects to increase its LNG production by 1 billion cubic feet per day by the end of the current financial year to reach 6.2 billion cubic feet per day.
 
Gas production will get a big boost from Italian national oil company Eni's Zohr field, discovered in 2015 with an estimated 30 trillion cubic feet of gas in place.
 
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