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LNG
Exports from some smaller LNG producers have slowed including from Egypt, which hasn't loaded a cargo in over a month according to ICIS late last week.
- Egypt's Damietta and Idku LNG plants both last loaded a cargo on 6 July and follows no cargoes loaded in June either. Egypt has only loaded two LNG cargoes since the end of May. A peak in last 2022 saw Egypt loading up to 14-16 cargoes per month.
- Output has likely slowed due to domestic demand for gas, particularly for air conditioning power generation and possibly from reductions to local production.
- The exact balance of local production and consumption has historically driven periods of either exporting, up to the end of 2013 or importing, such as from 2015-2018.
- Recent years have seen a shift back towards greater exports after increased production from companies such as Eni and BP and production boosts in the wider Middle East region, including from Israel.
Source: ICIS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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