Egyptian Natural Gas Holding Company (EGAS) has reportedly arranged for the delivery of three liquefied natural gas (LNG) cargoes from France’s Engie in the second quarter of this year.
The purchases were arranged through bilateral deals and not via a standard tender process, Reuters reported on Sunday citing trading sources.
To remind, Egypt’s imports of LNG declined dramatically in January as the country is gearing towards halting the imports due to increase in domestic gas production.
The rising production at newly discovered gas fields has pushed the country towards halting LNG imports sooner than it was initially anticipated.
One of the fields that has recently started production is the giant Eni-operated Zohr gas field in the Shorouk Block, offshore Egypt approximately 190 km north of Port Said.
It is the largest gas discovery ever made in Egypt and in the Mediterranean Sea, and will be able to satisfy a part of Egypt’s natural gas demand for decades to come, according to Italian energy giant Eni.
LNG World News Staff