Egypt to halt LNG exports as of May

Updated 4/21/2024 10:56:00 AM
Egypt to halt LNG exports as of May

Arab Finance: Egypt is set to stop liquefied natural gas (LNG) exports as of May to fulfill the needs of power plants, two government sources told Al Arabiya Business.

The Ministry of Petroleum and Mineral Resources is committed to exporting nearly 80,000 tons of LNG to Europe throughout March and April, one source said, adding that these would be the last shipments to be exported abroad.

The source noted that Egypt’s current daily consumption of LNG is roughly 6 billion cubic feet, expecting it to range between 6.2 and 6.3 billion cubic feet during summer.

The other source mentioned that the country’s current daily production of LNG ranges between 5.2 and 5.4 billion cubic feet, and is fully directed toward the local market.

The Israeli LNG inflows to Egypt stand at 1.1 to 1.15 billion cubic feet a day, the source added, indicating that it could surpass 1.2 billion cubic feet in summer.

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