Egypt: LNG imports will be reduced to 80 cargoes in 2017-18 year

14/08/2017 09:40 LNG


Egypt intends to import 80 cargoes of liquefied natural gas during the 2017-18 financial year that started in July, as stated by Petroleum Minister Tarek El Molla on Sunday, or down from the 118 cargoes imported in 2016.

Egypt has been making efforts to accelerate the expansion of recent gas findings, aiming to stop imports by 2019.

Molla declared that the country was planning to import 154 cargoes of LNG in 2016-17, but it finally imported only 118 cargoes due to the increase in local gas production.

Egypt hopes to raise its daily LNG production by 1 billion cubic feet by the end of the current financial year to attain 6.2 billion cubic feet per day.

Gas production will be enhanced from Italian national oil firm Eni's Zohr field, found in 2015 with an estimated 30 trillion cubic feet of gas in place.

At the end of 2017 the field is likely to come into production, saving Egypt billions of dollars in hard currency that would otherwise be spent on imports.

Premier Oil: A stake in North Sea gas field for sale

15/09/2017 16:51:00

The Premier Oil company intends to find a buyer for a half of its stake in the Babbage gas field, in the North Sea, pursuing the idea of reducing the debts accumulated at the time when the crisis hit the oil market.


Scottish scientists obtained hydrogen from tidal energy for the first time

15/09/2017 14:01:00

A Scottish research and demonstration centre declared being the first in producing the hydrogen gas from the tidal energy.


First sections of a power cable between UK and Belgium installed

15/09/2017 13:51:00

The first segments of an electricity cable have been already installed on the sea depth this week to link the UK and Belgium.