Egypt LNG restart optimism no substitute for gas strategy
The high-profile restart of the Damietta facility has ramped up rhetoric and expectations. But it may not be as simple as that
Egyptian authorities have hailed the first cargoes from the 7.56bn m³/yr (5.3mn t/yr) Damietta plant, after almost nine years of inactivity, as a boost to the country’s profile as an LNG exporter and to its role as a potential regional hub in the East Mediterranean. But, beyond the short-term monetary benefit of LNG exports, the impact of the global pandemic on wider LNG prices and on Egypt’s finances highlights the need for a sustainable and long-term policy that integrates the country’s gas sector priorities. That must include the role and price of gas in the domestic market and economy and the need to incentivise upstream activities, as well as the benefits of LNG as a revenue source and
Also in this section
2 May 2024
Faster-than-expected economic growth fails to mask macro imbalances and shifting structural oil product trends
1 May 2024
Energean CEO Mathios Rigas looks to results of critical Anchois appraisal well
30 April 2024
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
29 April 2024
Although recent, firmer gas prices have blunted some price-sensitive demand, the overall growth outlook remains robust