Egypt Exports 1.3 M Tons LNG via Idku in 2022

Egypt Exports 1.3 M Tons LNG via Idku in 2022

Through the gas liquefaction plant in Idku, Egypt has exported about 20 shipments of liquefied natural gas (LNG), estimated at 1.3 million tons, from the beginning of 2022 until mid-May, most of them are for the European and Asian markets, Alaa El Dabaa, General Director of Foreign and Government Affairs at Shell, told Al-Sharq.

El Dabaa added that the company supports Egypt’s efforts to transform into a regional energy trading hub.

High gas prices in Europe, especially after the Russian-Ukrainian crisis, turned it into a dominant destination for Egyptian liquefied natural gas, which was historically dominated by Asia. As of April, Europe received 71% of Egypt’s LNG exports this year, with Turkey, Spain, and France leading the import markets.

El Dabaa expected that European markets would acquire a large share of Egyptian gas exports during the coming period, due to soaring demand for natural gas in Europe after the energy crisis they witnessed as a result of the suspension of Russian energy supplies.

Shell and Petronas equally acquire 71% of the Idku plant, while the share of the Egyptian government, represented by the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding (EGAS), owns about 24% and the remaining 5% of the share of the French company ENGIE.

Sarah Samir 2746 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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