ICEC

Egypt to halt imports of LNG at end of FY2017/18: minister

Egypt plans to stop importing liquefied natural gas (LNG) by the end of financial year 2017/2018 as it speeds up production at recently discovered gas fields, Petroleum Minister Tarek el-Molla said on Saturday.

Egypt said previously that it would halt imports by the start of 2019.

El-Molla said the country will save $250 million per month by no longer importing LNG.

Source: Reuters

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