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Sunday, 5 February 2017

New discoveries to be announced in 2H2017 put Egypt on natural gas export track

New discoveries to be announced in 2H2017 will put Egypt on the natural gas export track, Bloomberg reports, citing remarks by Oil Minister Tarek El Molla. The discoveries will bring Egypt “closer to its goal of self-sufficiency by 2019,” the story says, quoting EGAS chief Mohamed El Masry as noting that “Egypt will start exporting natural gas in 2019” and will “import 43 to 45 cargoes of liquefied natural gas between March and December this year from Oman, Russia’s Rosneft, and France’s Engie.” Reuters’ Arabic service also has the news, as does Al Borsa.

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