Egypt will resume exporting liquefied natural gas (LNG) this month as planned, said Minister of Petroleum and Mineral Resources Tarek El Molla on Tuesday.
“We are still arranging and preparing for that, quantities are not yet defined,” he said in an interview with Reuters on the sidelines of the ADIPEC conference in Abu Dhabi.
Egypt’s LNG terminals on the Mediterranean have a capacity of shipping 12 million metric tons per year. While, the country is currently seeking to reach that production in 2025, to become a major LNG exporter.
However, due to high domestic consumption the country was unable to export any quantities in June. Commenting on the ongoing power cuts, El Molla said he expects the power cuts to ease.
“The cause is additional demand due to the heat wave and summer times with longer summer days. I mean it’s hot you know so people consume more,” El Molla said.
Egypt’s natural gas exports reached a record of eight million tons in 2022. The country’s exports are expected to reach 7.5 million tons this year.
