Reuters is reporting that Egypt will cease all natural gas imports now that its last LNG cargoes have been delivered.
This news was delivered in a statement by Petroleum Minister Tarek El Molla.
El Molla had previously provided notice of this action earlier this year. He stated that Eqypt would stop importing LNG by the end of the 2017/18 financial year as the country increased its production from its recently discovered gas reserves.
Not only have the recent discoveries of large gas fields, including the Zohr offshore field, enabled Egypt to become self-sufficient in relation to gas, but it now has ambitions to become a regional hub for LNG trading in the area.
In January, El Molla estimated that the country could make savings of approximately US$250 million per month by ceasing LNG imports.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/01102018/egypt-to-halt-natural-gas-imports/