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Egypt to abandon gas imports by mid-year
22:00 - 27/01/2018
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Egypt plans to halt the import of liquefied natural gas (LNG) by the end of fiscal year 2017-2018, which ends in June, while boosting production in newly discovered gas fields.
"Egypt will provide 250 million dollars a month after halting the import of liquefied natural gas (LNG)," Egyptian Oil Minister Tariq al-Mulla said Saturday.
Egypt is counting on the Dhahr field, discovered in 2015, to boost its gas production. The field is expected to reach 350 million cubic feet per day this year.
It is noteworthy that the field "back" is located in the "concession Sunrise" off the coast of Egypt, and estimated reserves of about 850 billion cubic meters of gas, and implements the project, "noon", a consortium of companies including the British "BP" and "Eni" Italian and Russian "Ross Naft" along with Egyptian companies
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