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Egypt's oil minister, Tarek el-Molla, said in a recent interview that Egypt may stop importing liquefied natural gas (LNG)
in the fourth quarter.
Tarek el-Molla added that production at the Zohr gas field and other fields will begin
early next year.
The last round of LNG import tenders this year is to meet domestic demand in the third quarter, which should be "import-free"
.
"I don't think there will be more bids
.
Local production should be able to cover our needs
.
In an interview with Bloomberg, Tarek el-Molla said, "Once Egypt has enough surplus, it will start compensating companies that have the right to operate the country's LNG export terminals, including Royal Dutch Shell, among others
.
" ”
In 2015, Erni discovered the largest gas field in the Mediterranean, the Zohr gas field, with an estimated production of 30 trillion cubic feet
.
The second phase of the Zohr gas field will add approximately 2 billion cubic feet of production per day and will be completed
by the end of the year.
Egypt is expected to bring in $10 billion in foreign investment
in the oil and gas sector this year and next.
Egypt's oil minister, Tarek el-Molla, said in a recent interview that Egypt may stop importing liquefied natural gas (LNG)
in the fourth quarter.
Tarek el-Molla added that production at the Zohr gas field and other fields will begin
early next year.
The last round of LNG import tenders this year is to meet domestic demand in the third quarter, which should be "import-free"
.
"I don't think there will be more bids
.
Local production should be able to cover our needs
.
In an interview with Bloomberg, Tarek el-Molla said, "Once Egypt has enough surplus, it will start compensating companies that have the right to operate the country's LNG export terminals, including Royal Dutch Shell, among others
.
" ”
In 2015, Erni discovered the largest gas field in the Mediterranean, the Zohr gas field, with an estimated production of 30 trillion cubic feet
.
The second phase of the Zohr gas field will add approximately 2 billion cubic feet of production per day and will be completed
by the end of the year.
Egypt is expected to bring in $10 billion in foreign investment
in the oil and gas sector this year and next.
