{"id":553445,"date":"2021-12-05T03:52:30","date_gmt":"2021-12-05T03:52:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/05\/egypts-lng-exports-are-maxed-out\/"},"modified":"2021-12-05T03:52:30","modified_gmt":"2021-12-05T03:52:30","slug":"egypts-lng-exports-are-maxed-out","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/05\/egypts-lng-exports-are-maxed-out\/","title":{"rendered":"Egypt\u2019s LNG exports are maxed out"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Egypt\u2019s LNG terminals are running at full capacity<\/strong> as the country tries to capitalize on the surge in natural gas prices overseas, Oil Minister Tarek El Molla told <a href=\"https:\/\/www.reuters.com\/markets\/commodities\/egypts-lng-exports-full-capacity-after-gas-price-surge-minister-2021-12-02\/\">Reuters<\/a> on Thursday. The country is currently exporting the equivalent of around 1.6 bn cubic feet per day (bcf\/d), helped by the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3613f080-5d75-4b85-af31-1b66fcda3204\">resumption of operations<\/a> at the Damietta LNG plant in February and skyrocketing gas prices in Europe. Shipments are expected to fall to 1 bcf\/d next summer due to rising domestic consumption, the minister said.<\/p>\n<p><strong>\u201cEgyptian gas has played a role in securing Europe's energy needs <\/strong>\u2026 The liquefaction units are now operating at full capacity as we try to maximize our natural gas exports in light of the rise in international gas prices,\u201d El Molla told the newswire at the East Mediterranean Gas Forum ministerial meeting in Cairo.<\/p>\n<p><strong>El Molla didn\u2019t specify by how much exports have risen<\/strong>, though data from <a href=\"https:\/\/www.spglobal.com\/platts\/en\/market-insights\/latest-news\/natural-gas\/111121-croatia-lng-receives-first-ever-cargo-from-egypt-16th-in-total\">S&P Global Platts<\/a> in early November showed that shipments had begun to pick up in 4Q2021 following the summer lull the previous quarter. As of the second week of November, more than eight gas shipments had departed from Egypt in 4Q2021. <strong>At least 75 LNG shipments have been shipped so far in 2021 \u2014 a huge jump<\/strong> after having only <a href=\"https:\/\/www.spglobal.com\/platts\/en\/market-insights\/latest-news\/natural-gas\/012621-egyptian-lng-exports-remain-strong-as-damietta-lng-prepares-to-restart\">shipped 24 during the whole of last year<\/a>.<\/p>\n<p><strong>We want to export more Israeli gas next quarter:<\/strong> The ministry wants to increase the amount of gas it pipes in from Israel for export exports to 600-650 mn cf\/d in 1Q2022, up from 450 mn cf\/d currently, he said, explaining that any further increases would require an additional onshore pipeline, which could be constructed in 2024-2025. Under the existing <a href=\"https:\/\/enterprise.press\/stories\/2019\/10\/03\/israel-to-boost-gas-supply-to-egypt-by-34-after-changes-to-landmark-agreement\/\">USD 19.5 bn agreement with Israel<\/a>, Egypt currently imports 2.1 bcm a year, which will increase to 6.7 bcm from 2023 through to 2034.<\/p>\n<p><strong>The ministry has plans to expand exports:<\/strong> Recent agreements with Greece and Cyprus have paved the way for new subsea pipelines that will allow Egypt to increase gas exports and consolidate its position as one of Europe\u2019s most important energy hubs. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/721b0df8-87fd-400e-af60-663496bde9e8\">A link<\/a> between Cyprus' Aphrodite gas field and Egypt\u2019s LNG facilities would allow Cypriot gas to be re-exported to Europe, while an<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/891598e1-8197-40e4-91d6-93e212f9c000\">MoU signed with Greece<\/a> last month could see us ramp up shipments to the Mediterranean country and construct a pipeline linking Egypt with the Greek mainland.<\/p>\n<p><strong>Egypt became a net exporter of LNG in 2018 <\/strong>after the discovery of the supergiant Zohr gas field \u2014 the Mediterranean\u2019s largest \u2014 allowed us to <a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/30\/egypt-ends-natural-gas-imports\/\">pull the plug<\/a> on LNG imports. Gas production is currently steady, ranging between 6.5 and 7 bn cf\/d, El Molla said.<\/p>\n<p><strong>A BIT OF ENERGY M&A-<\/strong><\/p>\n<p><strong>Italian energy com<\/strong><strong>pany Snam has bought Thai investor PTT Energy Resources\u2019 25% <\/strong><strong>stake in the the East Mediterranean Gas Company<\/strong> for USD 50 mn. EMG is the owner of the Arish-Ashkelon gas pipeline which Israel uses to ship gas to Egypt, the company said in a <a href=\"https:\/\/www.snam.it\/en\/Media\/Press-releases\/2021\/Snam_Peace_Gas_Pipeline.html\">statement<\/a>. The stake purchase marks the company\u2019s entrance into the region. The pipeline has a maximum capacity of 12 mn cubic meters a day.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt\u2019s LNG terminals are running at full capacity as the country tries to capitalize on the surge in natural gas prices overseas, Oil Minister Tarek El Molla told Reuters on Thursday. The country is currently exporting the equivalent of around 1.6 bn cubic feet per day (bcf\/d), helped by the resumption of operations at the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":553446,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[211,93,72,381,89,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-cyprus","tag-energy","tag-enterpriseam","tag-greece","tag-israel","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"b05357d8-d636-4372-a069-cf77d948b1e7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/219.jpg","photo_position":"above","related_issue":[553441],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt\u2019s LNG exports are maxed out - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/05\/egypts-lng-exports-are-maxed-out\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s LNG exports are maxed out\" \/>\n<meta property=\"og:description\" content=\"Egypt\u2019s LNG terminals are running at full capacity as the country tries to capitalize on the surge in natural gas prices overseas, Oil Minister Tarek El Molla told Reuters on Thursday. 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Chevron and Delek Drilling, which operate Israel\u2019s two biggest offshore reservoirs \u2014 the Tamar and Leviathan gas fields \u2014 will\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/219.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546726,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/26\/egypt-cyprus-to-break-ground-on-gas-pipeline-this-year-el-molla\/","url_meta":{"origin":553445,"position":1},"title":"Egypt, Cyprus to break ground on gas pipeline this year -El Molla","author":"enterpriseam admin","date":"26 May 2022","format":false,"excerpt":"Construction of the pipeline connecting Cyprus\u2019 Aphrodite natural gas field to Egypt will begin by the end of the year, Oil Minister Tarek El Molla told Bloomberg Asharq yesterday at the World Economic Forum (WEF). The planned pipeline will allow natural gas from the field \u2014 estimated to hold as\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/343.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567430,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/22\/egypt-to-negotiate-long-term-gas-agreements-as-prices-plunge\/","url_meta":{"origin":553445,"position":2},"title":"Egypt to negotiate long-term gas agreements as prices plunge","author":"enterpriseam admin","date":"22 January 2020","format":false,"excerpt":"Plunging gas prices are forcing Egypt to change its gas-selling strategy: Egypt will reduce the amount of liquefied natural gas (LNG) it sells via short-term contracts and negotiate long-term agreements in response to plunging gas prices, Bloomberg quoted Oil MinisterTarek El Molla as saying. The government is currently in talks\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/670.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625172,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/30\/egypt-ends-natural-gas-imports\/","url_meta":{"origin":553445,"position":3},"title":"Egypt ends natural gas imports","author":"enterpriseam admin","date":"30 September 2018","format":false,"excerpt":"Egypt has pulled the plug on natural gas imports. The pipeline news came as Egypt received its final shipment of imported liquefied natural gas last week, Oil Minister Tarek El Molla told the press yesterday, Reuters reports. El Molla \u2014 who did not specify the size of the most recent\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":632178,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/05\/is-the-oil-ministry-backtracking-on-ending-lng-imports-in-july\/","url_meta":{"origin":553445,"position":4},"title":"Is the Oil Ministry backtracking on ending LNG imports in July?","author":"enterpriseam admin","date":"5 February 2018","format":false,"excerpt":"Is the Oil Ministry backtracking on ending LNG imports in July? \u201cEgypt will stop importing LNG by the end of the year,\u201d Oil Minister Tarek El Molla said at a press conference yesterday, according to Reuters. El Molla had announced last week that Egypt will end LNG shipments by mid-2018,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591715,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/15\/idku-lng-plant-reaches-full-export-capacity-for-first-time-in-six-years\/","url_meta":{"origin":553445,"position":5},"title":"Idku LNG plant reaches full export capacity for first time in six years","author":"enterpriseam admin","date":"15 December 2019","format":false,"excerpt":"The Idku liquefaction plant has reached its full export capacity of 1.1 bcf\/d for the first time since 2013, a source at state gas company EGAS told the local press. Exports have surged from 300 mcf\/d in October to 1 bcf\/d last month as international prices rose in response to\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553445","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=553445"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553445\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/553441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/553446"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=553445"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=553445"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=553445"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=553445"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=553445"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}