(MENAFN - Daily News Egypt) The Ministry of Petroleum has estimated the savings resulting from importing liquefied gas to be over $3bn this fiscal year after connecting the new gas explorations to the production. A source within the petroleum sector told Daily News Egypt that the state paid about $280m monthly for importing shipments of liquefied gas, in order to meet the needs of the local market. The source pointed out that gas imports have recently seen a noticeable decline in terms of shipments thanks to the reliance on local gas production. He added that Egypt has stopped importing natural liquefied gas after achieving self-sufficiency this month through local production once the new explorations were made and connected to the production. Egypt imports 32-35% of its needs of fuel monthly to bridge the gap between local production and fuel consumption which is estimated to be 2.1m tonnes per month.

Source: Daily News Egypt September 26, 2018 19:52 UTC