Petroleum Africa
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Thursday, August 17, 2017
Egypt will decrease the number of LNG cargoes imported during the 2017-2018 financial year. According to Petroleum Minister Tarek El Molla, the country is only planning to import 80 cargoes during the period as opposed to the 118 LNG cargoes last year.
Egypt has been trying to speed up the development of recent gas discoveries with a view to halting imports by 2019.
The North African country is expected to see a boost in its natural gas production later this year when the Zohr field comes online. The Zohris expected to save Egypt billions of dollars in hard currency that would otherwise be spent on imports.
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