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.
Egypt intends to cease importing liquefied natural gas (LNG) by the end of fiscal year (FY) 2017/2018, which ends late June, Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, announced on January 27th, Reuters reported.
The country will reach its LNG imports halting plans as it speeds up output at newly discovered natural gas fields, the minister said, which will enable Egypt to save $250 million per month, informed CNBC.
Egypt has previously stated that it will halt LNG imports by 2019.