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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.
LNG
Egypt aims to boost LNG exports by around 40% from 2025, with the majority of the extra fuel shipments going to Europe according to Bloomberg.
- Europe is rushing to secure more LNG from the Middle East, the US and other regions as it plans for a future with virtually no gas from Russia, by far its biggest supplier before Moscow’s invasion of Ukraine.
- Egypt’s exports this year will probably remain flat at around 7.5mn tons, according to Energy Minister Tarek el-Molla. Its two LNG terminals on the Mediterranean coast are designed to ship 12mn tons per year, but reaching those levels will depend on Egypt pumping more gas and receiving more flows from Israel, he said.
- “I would expect to reach full capacity by 2025,” el-Molla said in an interview in Cairo on Tuesday. “This is the time when the current drilling campaign that we are undertaking will materialize.”
- Egypt and Israel are in talks to boost Israeli flows of piped gas to the North Africa country, el-Molla said. Much of that Israeli gas is re-exported as LNG from the ports of Damietta and Idku.
- The two governments signed MoU with the EU in June aimed at increasing volumes to Europe.
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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