Egypt’s LNG Imports to Fall to 80 Cargoes

Egypt’s LNG Imports to Fall to 80 Cargoes

Egypt will import $1.8 billion worth of liquefied natural gas (LNG) during fiscal year (FY) 2017/2018, according to the Minister of Petroleum and Mineral Resources, Tarek El Molla, Reuters reports.

Imports of LNG will be reduced to 80 cargoes, down 32% from the 118 imported in FY 2016/2017, Amwal Al Ghad reports.

Egypt expected to import 154 cargoes during the past fiscal year, but was able to reduce imports to 118 cargoes due to rising domestic production, according to Al Ahram Online.

Egypt expects its natural gas production to rise to 6.2 billion cubic feet per day (bcf/d) from the current 5.2 bcf/d – a 19% increase in output – by the end of FY 2017/2018.

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Sarah Samir 3496 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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