Egypt's stocks mixed on Tuesday as main gauge EGX 30 falls 0.63%    IMF upgrades Egypt's real GDP growth 2022 forecasts to 5.6%    Al Khair River starts trading on Egypt's stock exchange today    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    BRICS development bank admits Egypt as new member    Nermien Ismail Schools opens a new campus in O'West    Netherlands Embassy, E7kky Magazine celebrate success of 21 Egyptian women    Women make up 45% of Egyptian Atomic Energy Authority staff    Yas Island hosts travel partners at Formula 1 Etihad Airways Abu Dhabi Grand Prix 2021    Olaf Scholz becomes Germany's new leader, ending Merkel 16-year historic era    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    The unvaccinated prohibited from entry to Egypt state institutions starting December 1    Egypt's iron and steel exports jump 197% in 8 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    Brazil calls up 8 EPL players for World Cup qualifying    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Sisi calls on House, Senate to commence second legislative sessions on 3, 5 October    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    Qa'a play showing at Lycee El Horreya Theatre, Alexandria is a must go    On International Museum Day, Egypt opens two new museums at Cairo Airport    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Egypt's LNG exports at full capacity of 1.6 bcf/d after gas price rise – minister
Published in Amwal Al Ghad on 05 - 12 - 2021

Egypt's natural gas exports are now at full capacity of around 1.6 billion cubic feet per day (bcf/d) from its two natural gas liquefaction terminals as it seeks to benefit from a rise in international gas prices, Petroleum Minister said on Thursday.
Speaking to Reuters, Minister Tarek el-Molla said Egypt's natural gas production is stable, currently ranging between 6.5 and 7 bcf/d.
Exports are expected to drop to 1 bcf/d in April due to regular seasonal fluctuations, Molla noted, as domestic consumption starts surging into the summer.
For Egypt, gas and oil are a crucial source of foreign investment and dollar revenues. The North African country has been working to position itself as an energy hub ever since the 2015 find of the giant offshore Zohr field.
It has also worked to increase regional gas trade by hosting the East Mediterranean Gas Forum, designated to promote gas exports from the region.
"Egyptian gas has played a role in securing Europe's energy needs," the Egyptian minister told Reuters in separate comments at an EMGF conference last week. "The liquefaction units are now operating at full capacity as we try to maximise our natural gas exports in light of the rise in international gas prices."
El-Molla did not say what level LNG exports had surged from, but Egypt has expanded exports after ending a long shutdown at the Damietta liquefaction plant in February.
Egypt currently imports about 450 million cubic feet of gas per day (mmcf/d) from Israel for re-export, a figure that Minister Molla said it seeks to raise to 600-650 mmcf/d by the first quarter of 2022. Last week, Egypt and Israel inked a memorandum of understanding to boost gas supplies from Israel to Egypt for re-export, explore the possibility of using an existing pipeline between the two parties to transport hydrogen in the future, and to expand the use of less carbon-intensive fuels to reduce greenhouse gas emissions in the region.
The country recently made amendments to crude oil extraction agreements, which the minister said could lead to a surge of about 100,000 barrels per day (bpd), from current production of 575,000 bpd.
Minister el-Molla further said the amendments could result in $5 billion in new investment over the upcoming three years, while $6 billion in foreign investment in the energy sector is expected during Egypt's current financial year, which ends in June.

Clic here to read the story from its source.