Tarek EL-Molla "Egypt's Target USD 12 Billion from LNG Exports by the end of 2022."
The Egyptian minister of petroleum and mineral resources, Tarek EL-Molla, Stated during a television interview at SkyNewsArabia that Egypt is targeting between USD 18-19 billion from the petroleum sector exports by the end of 2022. LNG Exports will contribute USD 10-12 billion by exporting 8 million tonnes vs. 6.5 million tonnes in 2021.
According to EL-Molla, the LNG exports will increase during winter due to the lower consumption of natural gas at the electricity power stations, which face a higher electricity consumption during summer due to the air condition electrical consumption. The daily export rate during summer is between 700-800 million cubic foot, while in winter reaches 1.4-1.5 million cubic foot, a 100% increase.
Egypt is working on utilizing the production capacity of the liquefaction terminals (SEGAS LNG and Egyptian LNG) through a strategic partnership with the west Mediterranean gas producer countries.
Source: SkyNewsArabia
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