{"id":581600,"date":"2023-02-16T00:00:00","date_gmt":"2023-02-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/16\/europe-will-need-to-wait-until-2025-for-more-lng-from-egypt-says-el-molla\/"},"modified":"2023-02-16T00:00:00","modified_gmt":"2023-02-16T00:00:00","slug":"europe-will-need-to-wait-until-2025-for-more-lng-from-egypt-says-el-molla","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/16\/europe-will-need-to-wait-until-2025-for-more-lng-from-egypt-says-el-molla\/","title":{"rendered":"Europe will need to wait until 2025 for more LNG from Egypt, says El Molla"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Europe will have to sit tight as it waits for more LNG from Egypt: <\/span><span style=\"\">Egypt will boost its <\/span><span style=\"\">LNG exports to Europe in the long term, but the energy-deprived continent will have to wait another two years during which global supplies are expected to remain tight, Oil Minister Tarek El Molla told <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-15\/egypt-sees-2025-as-earliest-it-can-boost-lng-exports-to-europe#xj4y7vzkg\" style=\"\">Bloomberg<\/a><\/span><span style=\"\"> yesterday<\/span><span style=\"\">. The country is aiming to <\/span><span style=\"font-weight:700\">increase its LNG exports by around 40% starting 2025<\/span><span style=\"font-weight:400;\">, the majority of which will be earmarked to the European market, he said. \u201cI would expect to reach full capacity by 2025 \u2026 This is the time when the current drilling campaign that we are undertaking will materialize.\u201d Egypt\u2019s two LNG plants have a maximum capacity of 12 mn tons a year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Europe is already taking up a big chunk of our LNG exports:<\/span><span style=\"\"> Around <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/14\/conference-report-flatish-lng-exports-to-eu-dana-gas-to-commit-more-to-egypt-greenifying-the-petroleum-industry-96779\/\" style=\"\">80% of the 7.5 mn tons of LNG<\/a><\/span><span style=\"font-weight:400;\"> Egypt exported last year went to Europe, the minister said earlier this week. Exports this year are expected to remain flat.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">And there\u2019s more to come: <\/span><span style=\"\">Last year Egypt and Israel <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/06\/16\/egypt-israel-and-the-eu-sign-gas-export-agreement-73872\/\" style=\"\">inked an MoU<\/a><\/span><span style=\"\"> to increase gas exports to the EU as the continent looks to phase out its reliance on Russian fossil fuels. Under the agreement Israel will supply more gas to Egypt\u2019s LNG facilities before exporting it to Europe. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">USD 8 bn of investment this year?<\/span><span style=\"font-weight:400;\"> A number of international energy players want to boost their operations locally, El Molla said, pointing at Exxon Mobil, BP, and Shell. The country should see some USD 8 bn in investments into oil and gas exploration this year, he said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">IN OTHER ENERGY NEWS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">INA and Energean get the greenlight to start drilling new concession:<\/span><span style=\"\"> The Egyptia<\/span><span style=\"\">n General Petroleum Corporation (EGPC) signed a concession agreement with Croatian oil and gas company INA and UK-based Energean, allowing the two companies to begin exploratory drilling at their 50-50 East Bir El Nus concession in the Western Desert, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/INA-Press-Release-14-2-2023.pdf\" style=\"\">press release (pdf)<\/a><\/span><span style=\"\"> by INA.<\/span><span style=\"font-weight:400;\"> <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">El Molla<\/span><span style=\"\"> sat down with the president of Italian EPC contractor Tecnimont <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0uxCUegEgzGpeDMoDET9RpRESbBP3EYuFxNyyFhig7aXBVAw8HL9YAEJEC8eLbUr4l\" style=\"\">Alessandro<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0uxCUegEgzGpeDMoDET9RpRESbBP3EYuFxNyyFhig7aXBVAw8HL9YAEJEC8eLbUr4l\" style=\"\">Bernini<\/a><\/span><span> and Mubadala Energy CEO <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0HCXVgoZk954vB9kXfKkeFtqcQV86pn6ChDmCXMcr2wiUdgMoDM63h69EqTKzQ4nAl\" style=\"\">Sheikh Mansoor Mohamed Al Hamed<\/a><\/span><span> to discuss cooperation in the oil and gas industry, refining, and the transition to clean energy, the Oil Ministry said.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Europe will have to sit tight as it waits for more LNG from Egypt: Egypt will boost its LNG exports to Europe in the long term, but the energy-deprived continent will have to wait another two years during which global supplies are expected to remain tight, Oil Minister Tarek El Molla told Bloomberg yesterday. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":581601,"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":[93,72,7192,91,195],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-eu","tag-oil-and-gas","tag-tarek-el-molla","wpautop","entry"],"acf":{"mongo_id":"093d7eb2-1945-4055-b76c-b6543e8668f7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/MedLNGTanker-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581585],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.aa5b820d-19df-4eeb-a004-af1a79afc0f2.mp3"},"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>Europe will need to wait until 2025 for more LNG from Egypt, says El Molla - 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\/2023\/02\/16\/europe-will-need-to-wait-until-2025-for-more-lng-from-egypt-says-el-molla\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Europe will need to wait until 2025 for more LNG from Egypt, says El Molla\" \/>\n<meta property=\"og:description\" content=\"Europe will have to sit tight as it waits for more LNG from Egypt: Egypt will boost its LNG exports to Europe in the long term, but the energy-deprived continent will have to wait another two years during which global supplies are expected to remain tight, Oil Minister Tarek El Molla told Bloomberg yesterday. 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Together, those projects\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\/2021\/10\/258.png?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":581600,"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":581438,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/14\/conference-report-flatish-lng-exports-to-eu-dana-gas-to-commit-more-to-egypt-greenifying-the-petroleum-industry\/","url_meta":{"origin":581600,"position":2},"title":"Conference report: Flat(ish) LNG exports to EU, Dana Gas to commit more to Egypt + greenifying the petroleum industry","author":"enterpriseam admin","date":"14 February 2023","format":false,"excerpt":"The EU doesn\u2019t expect to import more LNG from Egypt this year: Last year\u2019sagreement to boost natural gas exports to the EU from Israel and Egypt will allow Cairo to \u201ckeep the relatively high volumes of LNG that it delivered to Europe last year,\u201d EU Energy Commissioner Kadri Simson told\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\/2023\/2\/EGYPS-2023-2.13.23-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546487,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/18\/rising-oil-import-prices-could-cancel-out-gas-export-gains-el-molla\/","url_meta":{"origin":581600,"position":3},"title":"Rising oil import prices could cancel out gas export gains -El Molla","author":"enterpriseam admin","date":"18 May 2022","format":false,"excerpt":"Egypt\u2019s rising oil import bill could cancel out any gains from higher gas export revenues this year, Oil Minister Tarek El Molla told CNBC Arabia yesterday (watch, runtime: 11:49). \u201cIt\u2019s possible that the extra [income] we get from our gas exports could be canceled out by the increase in the\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\/230.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550129,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/16\/el-molla-calls-on-european-dfis-to-invest-in-eastmed-energy\/","url_meta":{"origin":581600,"position":4},"title":"El Molla calls on European DFIs to invest in EastMed energy","author":"enterpriseam admin","date":"16 October 2022","format":false,"excerpt":"To solve its energy crisis, Europe should invest in EastMed, says El Molla: Gas from Eastern Mediterranean countries could help tame Europe\u2019s energy crisis \u2014 provided that development partners like the European Bank for Reconstruction and Development (EBRD) and European Investment Bank (EIB) help fund the drilling, Reuters reports Oil\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\/10\/231.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543812,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/20\/the-eu-wants-more-of-our-gas\/","url_meta":{"origin":581600,"position":5},"title":"The EU wants more of our gas","author":"enterpriseam admin","date":"20 February 2022","format":false,"excerpt":"Egypt has held talks with the EU over shipping more natural gas to Europe amid growing concerns that conflict in Ukraine could intensify the continent\u2019s energy shortage. 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