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.