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Egyptian LNG Exports Impacted By Israel Conflict: Goldman Sachs

LNG

Egyptian LNG exports are below the seasonal average and showing signs to be clearly impacted by the conflict in Israel, Goldman Sachs said in a note, cited by Bloomberg.

  • Egypt has lost 20% of its gas supplies as a result of the conflict. BNEF estimates Egypt has exported three LNG cargoes this month, but the country shipped no cargo last week.
  • Egypt continues to receive pipeline natural gas from Egypt’s Leviathan field via the FAJR pipeline through Jordan following the closure to the 10bcm/yr Tamar gas field and the 90km EMG gas pipeline.
  • While lower Egyptian LNG exports or a halt to shipments this winter won’t significantly tighten European supply, it leaves markets more vulnerable to supply or weather shocks in the coming months, Goldman said.
Energy BulletsCommodities
Energy BulletsCommodities

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