The Egyptian Natural Gas Holding Company (EGAS) arranged importing three liquefied natural gas (LNG) shipments from France’s Engie, to be delivered during the second quarter of 2018, Reuters reported.
The transaction was arranged in bilateral deals through a standard tender process, according to LNG World News.
Late January, EGAS arranged receiving five LNG cargoes, which will arrive to Egypt during the second quarter of 2018, trade sources told Reuters. French and Spanish corporations are among the suppliers, according to Reuters.
Egypt’s LNG imports decreased as the country aimed to halt imports as its natural gas production jumped due to newly discovered natural gas fields.
Egypt’s production of natural gas increased by 1.6 billion cubic feet per day (bcf/d) in 2017, up to 5.5 bcf/d, said Tarek El Molla, Egyptian Minister of Petroleum and Mineral Resources, according to Reuters.
The minister pointed out that natural gas production will rise to exceed 6 bcf/d before the end of 2018, reported Amwal Al Ghad.