Egypt’s endeavor to stop importing liquefied natural gas (LNG) has saved around EGP 24 billion per year, according to official sources at the Egyptian Natural Gas Holding Company (EGAS), Amwal alghad reported.

According to the sources, stopping LNG importation has motivated the oil and gas sector to export it abroad, as the government is keen on exporting around 2 billion cubic feet per day (bcf/d) by 2020.

The sources added that the oil and gas sector managed to export around 172.8 bcf/d during fiscal year (FY) 2018/19, through 45 shipments from Idku liquefication plant, stressing the government’s continuing efforts to turn into a regional gas hub through liquefying natural gas and re-exporting it.