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Egypt to stop importing LNG by end of 2018


Egypt will suspend importation of Liquefied Natural Gas (LNG) by the end of 2018, the petroleum minister said.

Tareq El-Mulla said the ministry is proceeding with projects to develop the petroleum sector, boost Egypt's output of natural gas and narrow the gap between production and consumption so that Egypt can realize self-sufficiency of LNG by end of 2018.

El-Mulla made the remarks while inspecting petroleum development projects, according to a statement by the Petroleum Ministry issued on Monday.

The total additional production of natural gas stood at about 1.5 billion cubic feet and 17,500 condensates barrels per day.

The minister lauded the success of Belayim Petroleum Company (Petrobel) in upping productive capacity of Nooros Field in addition to accelerating the implementation of the remaining stages of Zohor field which started production by the end of December with natural gas output standing at about 350 million cubic feet daily.

Zohor field natural gas production reached over 1 billion cubic feet and is expected to hit 2.7 billion cubic feet per day by 2019.

Abu Qir Petroleum Company has also given the go-ahead for six wells whose natural gas production reached 160 million cubic feet daily.

The minister also referred to the Pharaonic Petroleum Company's launch of Atoll field whose early production stood at 350 million cubic feet daily.

Last March, the early production of Taurus and Libra fields started at 720 million cubic feet daily, he said.

Efforts are underway to develop Giza and Fayoum fields to start production by the end of 2018, he said.

Raven Field will go online as of October 2019 with its natural gas production due to reach 850 million cubic feet daily.  

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