CAIRO: Minister of Petroleum Sherif Ismail told Youm7 Thursday the first shipment of imported Algerian liquefied natural gas (LNG) from a recently concluded round of negotiations will enter Egypt before the end of the year.
Previously, the Egyptian Natural Gas Holding Company (EGAS) held a meeting with a delegation from Algerian oil and gas company Sonatrach to discuss quantities and prices, Al-Shorouq reported Tuesday.
Sonatrach has agreed to send five LNG shipments to Egypt. Each shipment will contain 145,000 cubic meters of LNG, according to Al-Shorouq.
In related news, starting in August Egypt will start harvesting domestic natural gas from new fields in the Western Desert, Nile Delta and Alexandria, Ismail said.
He added authorities also resumed a project in Alexandria that is expected to produce 1,250 million cubic feet of LNG a day in 2017 and 2018.
The Petroleum Ministry also aims to conduct an international tender before the end of 2014 to import 500 million cubic feet of LNG a day in order to operate power plants during the next five years and end the current power crisis, Youm7 reported.
The Petroleum Ministry expects that domestic LNG production shortages will continue until 2018. The current shortage is around 2.9 billion cubic meters a day, as production is around 4.8 billion cubic meters and consumption reaches 7.7 billion cubic meters daily, according to Youm7.