Egypt will import $1.8 billion worth of liquefied natural gas (LNG) during fiscal year (FY) 2017/2018, according to the Minister of Petroleum and Mineral Resources, Tarek El Molla, Reuters reports.

Imports of LNG will be reduced to 80 cargoes, down 32% from the 118 imported in FY 2016/2017, Amwal Al Ghadreports.

Egypt expected to import 154 cargoes during the past fiscal year, but was able to reduce imports to 118 cargoes due to rising domestic production, according to Al Ahram Online.

Egypt expects its natural gas production to rise to 6.2 billion cubic feet per day (bcf/d) from the current 5.2 bcf/d – a 19% increase in output – by the end of FY 2017/2018.

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