FINANCIAL NEWS

Egypt’s LNG imports cost reach USD1.8bn amid this year

18 Sep 2017

(MENAFN) The government succeeded in solving the energy saving issue faced by the nation until 2015 by importing LNG shipments and realizing large oil and gas discoveries that cut pressure on foreign currency.

In addition, the oil sector gives top priority to meet the needs of the regional gas market before becoming an exporting nation and sets the priority of achieving self-sufficiency of natural gas.

Meanwhile, Ministry of Petroleum is aiming to achieve a surplus of gas by 2020, so it can be directed to meet the contractual obligations for export.

The country’s recent production of gas is almost 5.2bn cubic feet per day, an increase from 4.46bn.

MENAFN1809201700450000ID1095871324

MENAFN1809201700450000ID1095871324

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