OPEC: Egypt Most Growing Arab LNG Exporter in Q2 2021

Egypt was announced as the most growing liquefied natural gas (LNG) exporter in the Arab world during the Q2 of 2021, the Organization of the Petroleum Exporting Countries (OPEC) reported this week.

OPEC provided a new study and report showed that Egypt has exported LNG estimated at $1.4 million tons during Q2 compared to non-experts during the same period in 2020 due to the decline of international market prices.

The latest study attributed this overwhelming growth to the restarting of the Damietta LNG Plant at the capacity of 5 million tons per year (mmt/y). This also comes in parallel to the continuous operation of the Idku LNG plant at a capacity of 7.2 mmt/y.

It's worth mentioning that the Damietta LNG plant has exported 12 cargos since its re-operation and it is expected to export the same number of shipments during H2 2021 based on the international prices.