Egypt is a key LNG supplier to Turkey in 2021: S&P

Published on : 2021-12-13

Egypt is a key supplier of liquefied natural gas (LNG) to the Turkish market, with seven cargoes shipped in the fourth quarter of 2021 S&P Global said.

S&P data also showed that seven Egyptian LNG cargoes have shipped to Turkey since October, including 7.2 million mt/year shipped from Egypt’s Shell-operated Idku plant and 5 million mt/year shipped from Eni-operated Damietta facility.

“Turkey is set for record high gas demand in 2021, of as much as 60 Bcm on the back of strong consumption in the power sector. At the same time, Ankara is facing the prospect of more of its long-term import contracts expiring in the near future after deals with Azerbaijan for pipeline supplies and Nigeria for LNG already timed out in April and October, respectively,” S&P explained.

S&P pointed out that Turkey has a current long-term LNG contract with Algeria's state-owned Sonatrach, which is due to run until 2024.

“The new regular supply of LNG comes after Turkey and Egypt re-established formal diplomatic relations in early 2021,” S&P said.

In September, Egypt and Turkey agreed to continue engaging in exploratory talks between them after eight years of tensions.

Related Articles

Egypt makes great strides toward green economy

Egypt has made great strides in implementing its national strategy on green economy and is expanding its investments to carry out eco-friendly projects

Read More

Dana Gas payments from Egypt surge 130% in 2021

Dana Gas, one of the largest private natural gas companies in the region, said payments from operations in Egypt increased 130 per cent in 2021.

Read More

The Biggest Oil and Gas Discoveries Made in Africa in 2021

As the lifeblood of industrialized nations, oil and gas are valuable sources of energy that underpin socio-economic development and ensure energy security

Read More
Wintershall Deaneptune LogoSIEnppipetrojetTransGlobe SCHNEIDER-ELECTRIChempleEgypt gasNorthAlmansooriSKY CTS exxonmobilSchlumberger