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Egypt to import 55 cargoes of natural gas
Courtesy: shutterstock.com
 

Egypt has agreed to import 55 cargoes of liquefied natural gas, the Oil Ministry announced on Monday. Previous reports indicated that the government was seeking to buy 45 cargoes. 

 

The shipments will arrive at a rate of four to five cargoes per month between November 2015 and December 2016, and will be used to support local gas consumption.

 

Although residential electricity cuts have reduced in frequency this year, manufacturers report declining productivity due to shortages of natural gas.

 

Egypt began importing natural gas in April, when a floating import terminal went online in the Red Sea port of Ain Sokhna. A second terminal arrived in Ain Sokhna on September 30, and is scheduled to begin testing this month. 

 

State gas company EGAS accepted bids from seven companies out of 12 that participated in the tender, the company said in a statement. The firms who will supply the gas have not yet been named.

 

EGAS says each shipment will consist of 170,000 cubic meters of gas, but did not specify the price it will pay. 

 

In August, Italian energy firm Eni announced it had found a “supergiant” natural gas field off Egypt’s Mediterranean coast. The company says the field contains enough gas to supply Egypt’s energy needs for decades, but it is not expected to come online before 2020. 

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