Egypt stops importing LNG

Egypt’s imports of liquefied natural gas are coming to close following the delivery of final cargoes during the past week.

The country’s minister Tarek El Molla said the imports have been halted as the domestic production keeps ramping up at the recently discovered gas fields, Reuters reports.

El Molla did not unveil how many cargoes Egypt already imported this year.

After turning from a net gas exporter to a net gas importer due to a shortage of domestic supply in recent years, Egypt strived on recent discoveries like the giant Zohr gas field.

The country is now aiming to establish itself as the regional LNG trade hub. Its production grew from 6 billion cubic feet per day in July to 6.6  billion cubic feet per day last month, on the back of volumes produced at the Zohr field.

Earlier in the year, El Molla said that Egypt would halt imports of LNG which would save the country $250 million on a monthly basis.