Egypt

Shell and Total will export 30 LNG cargoes in 2021 as part of long-term contract

Published on : 2020-10-07

Youm7 - Official sources in the petroleum sector revealed that about 30 cargo of liquefied natural gas will be exported from the Edco Liquefaction Plant during the next year 2021, as part of the long-term contract commitments that have been concluded to market gas.

The sources added, in exclusive statements to “The Seventh Day,” that these shipments are in favor of Shell and Total, pointing out that the average volume of one shipment is about 150 thousand cubic meters of liquefied gas..

It is noteworthy that during the fiscal year 2018/2019, the amount of liquefied gas exported from the liquefaction plants “Idku Factory” reached about 172.8 billion feet 3 natural gas equivalent to the liquefied gas exported through 45 liquefied gas cargoes.

Official sources in the petroleum sector had revealed to “The Seventh Day” that 55 shipments of liquefied natural gas had been exported during the year 2019, through the Edco Gas Liquefaction Plant, as well as the export of a shipment of liquefied gas from the Idku Gas Liquefaction Plant during the last week of last July, estimated at about 150,000 cubic meters of liquefied gas as part of this year’s long-term contracts.

Egypt’s production of oil wealth increased during the past six years to unprecedented rates, especially natural gas, which rose to its highest rates as one of the fruits of the petroleum sector’s plans to accelerate the development of the discovered fields and put them on production, which contributed to gradually increasing production and reaching unprecedented rates, as gas production reached Naturally occurring, more than 7 billion cubic feet per day in December 2019.

Self-sufficiency of locally produced natural gas was achieved by the end of September 2018 thanks to the gradual increase in domestic production of gas as a result of the completion of the development and development of new stages of many gas field development projects, the most important of which are four major fields in the Mediterranean on the production map, which led to the cessation of gas imports. For the first time more than 3 years ago, and consequently, rationalizing the use of foreign exchange destined for imports and reducing the import bill, which is a burden on the state’s general budget, and after achieving self-sufficiency and continuing to increase gas production, Egypt has transformed from a LNG importer to a self-sufficient country with a surplus of Gas production and able to fulfill its export obligations.

Egypt has gas liquefaction plants on the Mediterranean in Damietta and Idku, which opens new horizons towards maximizing Egypt’s regional role and contributes to achieving revenues for the benefit of the Egyptian economy and securing energy supplies for the local market and development projects.


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