Egypt to Import LNG From France

Egyptian Natural Gas Holding Company has arranged for the delivery of three liquefied natural gas cargoes from France’s Engie in the second quarter of 2018, EGAS sources said on Sunday. Trade sources told Reuters last month that Egypt was looking to import five cargoes of LNG at competitive pricing. Two trade sources said the purchases were arranged through bilateral deals and not via a standard tender process. Egypt plans to stop importing LNG by the end of the 2017-18 fiscal year ending in June, as it speeds up production at recently discovered gas fields, the petroleum minister said in January. Egypt is expected to stop importing liquefied gas by June 2018, as the country’s giant Zohr Gas Field began production by the end of 2017.  Minister of Petroleum Tarek El-Molla clarified that Egypt accomplished four important projects for gas production in 2017, which will add 1.6 billion cubic feet of gas per day. These projects are north of Alexandria’s fields Torres and Libra, Atoll, Norse and Zohr.