Egypt’s Petroleum Ministry is accelerating efforts to import a targeted 7mn t/yr of LNG to avert a looming gas shortage. Significant obstacles still need to be overcome, but MEES understands Shell and Egyptian firm Citadel Capital have emerged as the preferred partners to lead, what would be, if realized, the world’s biggest floating LNG import project.
Both volume requirements and the targeted June start date for imports are widely considered unrealistic. But Cairo is desperate. Already key industrial facilities have had gas supplies withheld. (CONTINUED - 784 WORDS)