Global pressure mounts on Israel as Gaza death toll surges, war deepens    Egypt targets 7.7% AI contribution to GDP by 2030: Communications Minister    Irrigation Minister highlights Egypt's water challenges, innovation efforts at DAAD centenary celebration    Egypt discusses strengthening agricultural ties, investment opportunities with Indian delegation    Al-Sisi welcomes Spain's monarch in historic first visit, with Gaza, regional peace in focus    Cairo governor briefs PM on Khan el-Khalili, Rameses Square development    El Gouna Film Festival's 8th edition to coincide with UN's 80th anniversary    Egypt's gold prices fall on Wednesday    Egypt expands medical, humanitarian support for Gaza patients    Egypt condemns Israeli offensive in Gaza City, warns of grave regional consequences    Cairo University, Roche Diagnostics inaugurate automated lab at Qasr El-Ainy    Egypt investigates disappearance of ancient bracelet from Egyptian Museum in Tahrir    Egypt launches international architecture academy with UNESCO, European partners    Egypt signs MoUs with 3 European universities to advance architecture, urban studies    Egypt's Sisi, Qatar's Emir condemn Israeli strikes, call for Gaza ceasefire    Egypt condemns terrorist attack in northwest Pakistan    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egyptian, Ugandan Presidents open business forum to boost trade    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EGAS reportedly purchased 9 LNG shipments
Aramco to supply Egypt with 0.5-1m barrels of crude oil per month
Mohamed Samir Published in Daily News Egypt on 20 - 06 - 2018

The Egyptian Natural Gas Holding Company (EGAS) has reportedly purchased nine liquefied natural gas (LNG) cargoes through tender, according to Reuters.
The shipment is scheduled for delivery between July and August, with an estimated price of about $11 per million British thermal units (mmBtu).
Egypt had imported a total of 118 LNG cargoes in fiscal year (FY) 2016/2017, costing an import bill of $2.2bn, according to the Ministry of Petroleum and Mineral Resources.
However, given the promising production of not only Zohr, but other deep-water fields such as the Atoll, Nooros, Taurus, and Libra fields, the ministry is aiming at importing only 80 cargoes throughout FY 2017/2018, recording a reduction of 32% in Egypt's current import bill of $200m monthly, ministry sources told Daily News Egypt.
In February, Minister of Petroleum Tarek El-Molla told Daily News Egypt that Egypt is likely to achieve self-sufficiency by the end of 2018, after the gradual increase of production from the new fields, bridging the gap between production and domestic consumption. Hence, Egypt will not be obliged to import LNG.
On Monday, the Ministry of Petroleum announced that the total daily added production of natural gas since the beginning of 2017, thus far amounted to about 1.5bn standard cubic feet per day (scf/day) and 5,170 barrels of condensates. Egypt's natural gas production reached about 5.5bn scf/day in 2017, up from 4.6bn scf/day in 2016, after adding a number of new discoveries to the national gas grid, namely the Zohr gas field.
On a different note, Saudi Arabia's Aramco, the world's largest oil producer, agreed to supply Egyptian refineries with crude oil for another six months starting July, El-Molla said on Tuesday.
Aramco would supply 500,000 to 1m barrels per month, according to the statement.
Earlier in June, the Central Agency for Public Mobilisation and Statistics said in its report that the total exports of crude oil during the first three months of 2018 reached $476m, versus $554m during the same period of the previous year—a decline of $77.9m.

Clic here to read the story from its source.