El Molla: Egypt to Ramp Up LNG Exports to Europe in Upcoming Period

El Molla: Egypt to Ramp Up LNG Exports to Europe in Upcoming Period

In an interview with Al- Sharq, Minister of Petroleum and Mineral Resources Tarek El Molla disclosed plans with the East Mediterranean countries to increase liquefied natural gas (LNG) exports to Europe during the upcoming period.

During the interview on the sidelines of the World Economic Forum in Davos, the minister said that Egypt currently is exporting 1 billion cubic meters of natural gas per day (bcm/d) and it is expected to increase to more than 1.5 bcm/d over the next two years.

El Molla also added that he expects the start the drilling and installation work for the pipeline with Cyprus at the end of 2022 and it should be completed to start operation by 2025. The pipeline is based on an agreement signed between the two countries in 2018.

Furthermore, Egypt will post a bid round for oil and gas exploration and production (E&P) by H2 of 2022, the minister said, highlighting that the state’s agenda has a bid round offering every year for E&P in the Mediterranean, Eastern Desert and the Western Desert.

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