Egypt’s Plan to Resume LNG Exports
Egypt is planning to resume its liquefied natural gas (LNG) exports in the autumn, according to the country’s Minister of Petroleum and Mineral Resources, Tarek El Molla. The move is part of the country’s efforts to increase its natural gas production and export capacity.
Egypt’s Natural Gas Production
Egypt is one of the largest producers of natural gas in the Middle East and North Africa region. The country has been producing natural gas since the 1960s and has been exporting it since the 1970s. In recent years, Egypt has seen a significant increase in its natural gas production, with production reaching a record high of 7.2 billion cubic feet per day in 2020.
LNG Exports
Egypt has been exporting LNG since 2004, when it began exporting to Spain. Since then, the country has exported to a number of countries, including the United States, Japan, and South Korea. In 2020, Egypt exported a total of 8.2 million tons of LNG, making it the fourth-largest exporter of LNG in the world.
Resuming LNG Exports
The Minister of Petroleum and Mineral Resources, Tarek El Molla, announced that Egypt is planning to resume its LNG exports in the autumn. The move is part of the country’s efforts to increase its natural gas production and export capacity.
The Minister also stated that the country is planning to increase its natural gas production to 10 billion cubic feet per day by the end of 2023. This would make Egypt the largest producer of natural gas in the Middle East and North Africa region.
LNG Export Terminals
In order to facilitate the resumption of LNG exports, Egypt is planning to build two new LNG export terminals. The first terminal, located in the port of Ain Sokhna, is expected to be completed by the end of 2023. The second terminal, located in the port of Damietta, is expected to be completed by the end of 2024.
Egypt’s Natural Gas Reserves
Egypt has the fifth-largest natural gas reserves in the world, with an estimated total of 77 trillion cubic feet. The country is also the largest producer of natural gas in the Middle East and North Africa region, with production reaching a record high of 7.2 billion cubic feet per day in 2020.
Conclusion
Egypt is planning to resume its LNG exports in the autumn, as part of the country’s efforts to increase its natural gas production and export capacity. The country is also planning to build two new LNG export terminals and increase its natural gas production to 10 billion cubic feet per day by the end of 2023. With its large natural gas reserves and increasing production, Egypt is well-positioned to become a major player in the global LNG market.