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Egypt: Cairo’s ambitions to become a major gas exporter

By Sherif Tarek

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Posted on January 28, 2022 10:25

Projet gazier Zohr en Egypte.© Saipem Projet gazier Zohr en Egypte.
© Saipem
Projet gazier Zohr en Egypte. © Saipem

The protracted energy crisis, particularly in Europe, could make Egypt’s natural-gas exports more attractive to European and Eastern Mediterranean markets

Egypt’s massive Zohr gas field has turned the country into a gas exporter, and the Cairo government has been signing a raft of deals with neighbouring countries on supplies and infrastructure. Gas is due to be supplied to Lebanon for the first time in late February, and the Greek and Egyptian governments held talks about cooperation on gas projects in November.

Egypt is the fastest-growing Arab exporter of liquefied natural gas (LNG): the country exported 63.6bn cubic feet of LNG in 2020 and relaunched operations at the mothballed Damietta plant after it was closed for eight years. But Egypt is still a small player, with LNG exports far behind its North African peer Algeria.

Edward Moya, a senior market analyst at international brokerage Oanda tells The Africa Report: “Egypt […] could be poised to take advantage of a shortfall in supplies in Europe. Egypt has been wanting to become a

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