Egypt plans to import up to 120 cargos of LNG in 2017
Egypt aims to import between 110 and 120 cargos of liquefied natural gas in 2017, the state-owned
Egyptian Natural Gas Holding company (EGAS) told Reuters.
Separately, three trade sources said EGAS had purchased 10 cargoes of LNG from trade house Trafigura
and one from PetroChina earlier this month.
Egypt relies to a large extent on LNG to generate electricity for its 90 million people.
Once an energy exporter, Egypt has turned into a net importer because of declining oil and gas
production and increasing consumption. It is trying to speed up production at recently discovered
reserves to fill its energy gap.
Egypt currently produces about 3.9 bln cubic feet of gas per day and imports about another 1-1.1 bln
cubic feet per day.