Egypt may have just issued its last LNG tender, setting the stage to resume exports next year, according to Petroleum Minister Tarek El Molla. He added that imports of LNG may stop in 4Q18, allowing for exports to start early next year. The final LNG import tender was issued to cover domestic requirements in 3Q, while that of 4Q should be “import-free” El Molla said. He added that the Zohr field will increase gas production to 1.7bcfd by August from 1.2bcfd currently. Egypt’s total output is 6bcfd, and that should increase to 6.5bcfd by September. Egypt will start compensating companies that have rights to operate the country’s LNG export terminals, including Royal Dutch Shell Plc and Union Fenosa SA, El Molla said. The country is expecting to attract USD10bn both this year and next year in foreign investment in its oil and gas industry, according to El Molla.
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.