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Egypt to spend $1bn to meet summer energy needs

: Tuesday, February 11 - 2014 @ 07:02

Egypt’s oil minister Sherif Ismail has said the government will need to import an additional $1bn worth of petroleum products and secure significant natural gas supplies, as it scrambles to meet energy needs for the summer, Reuters has reported. “Of course there are needs,” said Ismail, adding that efforts to import badly needed natural gas may not succeed. “The intention is to (make available) liquefied natural gas (LNG) and (to get) LNG facilities in operation before the summer …It is our prime concern and intention to solve this problem if not for this year by 100%, then at least for the years yet to come.”

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Tuesday, February 11- 2014 @ 7:02 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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