OAPEC: Egypt achieves 900% growth in natural gas exports during 2021
The report on developments of liquefied natural gas and hydrogen for the third quarter of 2021 revealed that the largest growth in the volume of Arab exports during the third quarter of 2021 came from the Arab Republic of Egypt, which exported about 1 million tons, noting that during the same period of the previous year 2020, exports amounted to about 0.1 million tons only due to the slump in spot prices in global markets that did not achieve the economic feasibility for export, thus achieving a growth on an annual basis of 900%, which is the highest growth rate in the world during the third quarter of 2021. The report issued by OAPEC added that this continuous growth in the volume of exports is due to the restart of the liquefaction complex in Damietta in February early 2021, which has a production capacity of about 5 million tons/year, after it had been inactive for about 8 years, in addition to the continued operation of "Idku" complex, which has a production capacity of about 7.2 million tons/year. Sources added that Egypt is expected to achieve a record number of liquefied natural gas exports by the end of 2021 after resuming export activity at this high rate thanks to the growth of domestic production after making several gas discoveries and accelerating their development, particularly the Zohr field and the Atoll field. (petroleum-today)
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