Zohr discovery made Egypt ditch third FSRU – source
The El-Minya cement plant in Egypt. Industrial users are waiting for a price cut to be passed through. (Suez Cement)
Egypt’s decision to abandon plans for a third FSRU was driven not by a lack of funds but by the promise of significant future gas production from Eni’s Zohr discovery, an industry leader has told Interfax Natural Gas Daily.
Alaa Ezz, secretary general of the Federation of the Egyptian Chambers of Commerce, said the promise of huge volumes coming into the domestic market by the end of 2017 made LNG unnecessary for industrial customers.