Is the Oil Ministry backtracking on ending LNG imports in July?
Is the Oil Ministry backtracking on ending LNG imports in July? “Egypt will stop importing LNG by the end of the year,” Oil Minister Tarek El Molla said at a press conference yesterday, according to Reuters. El Molla had announced last week that Egypt will end LNG shipments by mid-2018, which in retrospect, appears to have been a target estimate.
He also noted that one Floating Storage Regasification Unit (FSRU) could remain commissioned to accommodate LNG imports by the private sector or in case there is a shift towards supplying more power plants with natural gas instead of diesel or heavy fuel oil, Al Masry Al Youm reported.
Egypt’s natural gas production will exceed 6 bcf/d before the end of 2018, the minister added. Natural gas production increased by 1.6 bcf/d in 2017 to reach an output rate of 5.5 bcf/d currently, El Molla says.