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Egypt to resume LNG exports in autumn

Egypt intends to resume liquefied natural gas (LNG) exports during the upcoming fall season, following a summer hiatus due to rising domestic demand, Bloomberg reported on July 19th, citing Petroleum and Mineral Resources Minister Tarek El Molla.

Egypt is using up all the gas it produces because of the hot weather, with little is left over for exports, El-Molla told reporters in Cairo.

“We exported more gas because we relied more on fuel oil which last year was cheaper than natural gas so I’d import mazut and export natural gas,” said El Molla. “Today it’s the opposite.”
Source: Arab Finance Brokerage Company

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