Thursday, February 16, 2017

Egypt will reach natural gas self-sufficiency by 2018 -EGAS - ENTERPRISE / REUTERS

Thursday, 16 February 2017

Egypt aims to reach natural gas self-sufficiency in 2018, EGAS Chairman Mohamed El Masry told Reuters’ Arabic Service. The private sector will be able to import natural gas for industries through new regulations by 2018 or possibly before then, he added. A large portion of the gap between supply and demand will be filled when the Zohr field begins production at the end of the year, he said. 

El Masry also expects natural gas exports to resume from Egypt’s three liquefaction plants in 2019. He expects natural gas output to reach 5.9 bcf/d by FY2018-19. The Oil Ministry’s previous target date for natural gas self-sufficiency was 2019 as it expected new discoveries to be announced in 2H2017. That opens the question of what we’re going to do with FSRUs, given the contract for the Höegh Gallant, the first FSRU Egypt contracted, is commissioned for a five-year term that expires in 2020, and the second FSRU, provided by BW Gas, is also on a USD 60 mn a year contract expiring the same year.