EGAS arranges delivery of 3 LNG cargoes

CAIRO – 18 February 2018: Egyptian Natural Gas Holding Company’s (EGAS) sources told Reuters on Sunday that EGAS has arranged the delivery of three liquefied natural gas (LNG) cargoes from France’s Engie in the second quarter of 2018.

Petroleum Minister Tarek el Molla announced last year that Egypt planned to import 80 cargoes of liquefied natural gas during the fiscal year 2017/2018 that began in July.

Egypt is expected to stop importing liquefied gas by June 2018, as the country’s giant Zohr gas field began its production by the end of 2017.

Minister of Petroleum Molla clarified that Egypt accomplished four important projects for gas production in 2017 that 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.
Zohr is an offshore natural gas field located in the Egyptian sector of the Mediterranean Sea, containing about 850 billion cubic meters (30 trillion cubic feet) of gas.

Atoll Field which is located in the North Damietta Offshore concession, contains an estimated 1.5 trillion cubic feet of gas and 31 million barrels of condensates.

The minister of petroleum pointed out that Egypt is witnessing positive steps in the energy field, including the law regulating the new gas market and the national project of Egypt to become a regional center for the trade and circulation of gas and oil, which is moving at a steady pace.

Last year, Egyptian Parliament passed a new law to regulate the activities of the gas market; the law will help attract the private sector to invest in storing and selling natural gas directly to consumers.