Egypt has exported its first LNG cargo since the beginning of the latest conflict between Israel and Hamas, Kpler ship-tracking data showed on Thursday.
The Adam LNG vessel departed the Egyptian LNG plant of Idku, operated by Shell, late Wednesday after arriving for loading on Tuesday, with Port Qasim in Pakistan as its destination.
The last vessel to export a full load from the 9.8bcm/year facility was on October 6, one day before the Hamas attack on Israel that sparked an escalation in the regional conflict.
The potential halt of Egyptian exports during winter had sparked concerns about limitations to LNG availability in Europe, adding a risk premium to prices.
More exports
Italy’s Eni, which operates the Damietta LNG plant, Egypt’s other LNG facility with a 7.6bcm/year capacity, announced last week it would restart exports as early as December thanks to more Israeli supply.
Israel resumed production out of its 10bcm/year Tamar field and exports to Egypt earlier this month, which halted as a precautionary measure amid the conflict.
Last winter, LNG imports from Egypt into Europe and Turkey were around 3.4m tonnes (4.6bcm) or 5% of the region’s total supply of the liquid fuel.
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