Egypt is on its way to join the world’s top liquefied natural gas (LNG) exporters as it supplies major natural gas consumers, on top of which is Europe, the Cabinet announced.
Egypt moved from an importer of natural gas to achieve natural gas self-sufficiency and becomes an exporter.
According to the cabinet report, Egypt’s exports increased by 123.3% in eight years as the country exported 6.7 million tons of LNG in 2021, compared to 3 million tons in 2013.
Egypt ranked the 14th on the list of global natural gas producers, the fifth regionally, and the second in Africa during 2020, producing 58.5 billion cubic meters (bcm).
Meanwhile, Europe uses 14.2% of natural gas consumption around the world, recording 541.1 bcm in 2020, the Cabinet stated.
The sharp decline in Europe’s natural gas production from 2019 to 2050 will increase the European market’s dependency on external suppliers to cover future demands.