Egypt’s liquefied natural gas exports in the first quarter of 2023 remained the same as in the same period last year, despite a decrease in production at some fields.
The report of the Organization of Arab Petroleum Exporting Countries OAPEC, a copy of which was made available to the specialized energy platform, showed that the export of liquefied gas from Egypt during the first quarter of 2023 amounted to about 1.90 million tons.
The report explains that Egypt’s liquefied natural gas exports held steady in the first quarter of 2023, thanks to production levels that have risen following the development of gas fields in the eastern Mediterranean region and the quantities Cairo is receiving from other fields in the region. contracts with foreign companies.
The OAPEC report, released today, Wednesday, May 17, entitled “Advances in LNG and Hydrogen in the First Quarter of 2023” and prepared by expert, engineer Wael Hamed Abdel Moati, confirmed that Egypt’s exports play an important role in Cairo’s strategy aimed at becoming a regional center for trade and export of LNG.
Egypt is the only country with liquefied gas stations in the Eastern Mediterranean countries with a capacity of more than 12 million tons per year.
The Egyptian liquefaction stations at Damietta and Idku are among the most important pillars of Egypt’s facilities and infrastructure for the trade and circulation of natural gas.
According to preliminary estimates by the Organization of Arab Petroleum Exporting Countries, two LNG stations in Damietta and Idku exported about 1.44 million tons of liquefied gas to European markets (EU, Turkey and the UK).
Egypt’s LPG exports in the first quarter of 2023 to Europe accounted for about 76% of total exports between January and the end of March (2023).
Asian markets received the rest of Egypt’s liquefied gas exports in the first quarter of 2023 in the amount of about 0.46 million tons, with a share of 24% of the total.
According to an OAPEC report prepared by engineer Wael Hamed, Turkey topped the list of countries where LPG is exported from Egypt in the first quarter of 2023 with a share of 41%, followed by the countries of the European Union with a share of 24%. equal deliveries to Asian markets, while the UK acquired a share of 11% of Egyptian exports.
Turkey is seeking to increase its supply of Egyptian liquefied natural gas through long-term contracts as part of Ankara’s plan to become an international hub for its trade.
Chairman of the Board of Directors of the Egyptian-Turkish Business Association (TOMIAD) Nihad Akinci, in statements to a specialized energy platform, confirmed that Ankara asked Cairo to continue selling liquefied gas under long-term contracts.
Egypt’s liquefied natural gas exports increased by 13% year-on-year in the last quarter of last year to 2.6 million tons compared to 2.3 million tons in the same quarter of 2021.
Egypt’s total liquefied gas exports in 2022 were 7.4 Mt, up from 6.6 Mt in 2021, helping Egypt achieve a record gas export of 8 Mt, including pipeline gas exports, in 2022 by compared to about 7 million tons in 2021.
The value of Egypt’s gas export earnings was $8.4 billion in 2022, up from $3.5 billion in 2021, up 140% due to rising global export prices for liquefied natural gas.
Source: Energy Platform
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