As Egypt seeks another import terminal and more LNG cargoes, its switch from gas exporter to importer looks increasingly permanent. Anchored at Ain Sukhna on the Gulf of Suez - Hoegh Gallant, the country's first import terminal - is set to receive four shipments per month over five years (WGI Apr.8'15). Once another vessel arrives at the same site - eight cargoes in total are due to arrive per month up to 2020, Tarek El-Molla, chief executive of state Egyptian General Petroleum Corp. (EGPC), told journalists at a conference in Cairo last week. Gas production has plummeted by 20% over the past two years to 48 billion cubic meters/yr (4.65 billion cubic feet per day) while exports have dried up from Egypt's two LNG export plants — BG-operated Idku and Union Fenosa Gas' Damietta — as domestic gas demand has soared. Cairo needs imports to cover its gas shortfall and has had difficulty meeting electricity demand during summer months, along with industrial requirements. El-Molla says Egypt's needs this summer are covered.
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