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Oil & Gas

Egypt imported 17 LNG cargoes in Q1 2018-2019 worth $500 million

LNG
Posted: October 1, 2018 at 1:28 pm   /   by   /   comments (0)

Egypt imported 17 shipments of liquefied natural gas (LNG) in the first quarter of fiscal year 2018-2019 worth $500 million, Petroleum Ministry spokesman Hamdi Abdelaziz said on Sunday.

Egypt said on Saturday it will stop importing natural gas after its final liquefied shipments arrived last week.

The country will save $1.5 billion yearly by no longer importing LNG, Abdelaziz added.

The final tally on this FY’s natural gas imports: Egypt imported 17 shipments of liquefied natural gas (LNG) worth USD 500 million in 1QFY2018-19, Oil Ministry spokesman Hamdi Abdelaziz tells Reuters. Imports in FY2017-18 amounted to USD 1.5 billion for 76 shipments, according to Abdelaziz. Egypt received its final shipment of imported LNG last week, marking the end of natural gas imports for the country, Oil Minister Tarek El Molla told the press over the weekend. El Molla had previously said Egypt is due to begin exports by January 2019, with exports expected to reach 400 mmcf/d in early 2019, unnamed ministry sources said. The exports include 250 mmcf/d Egypt will be supplying to Jordan as of the beginning of next year.

(Sources: Reuters & Enterprise.press)

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