Bloomberg reported that expectations show Egypt may export 8.2 million tons of liquefied natural gas this year, due to high prices in Europe. In a report, the agency said that Egypt’s exports of natural and liquefied gas jumped by 98 percent during the first four months of 2022, compared to the same period of last year, to reach US$ 3.9 billion. Bloomberg indicated that Egypt seeks to be a major energy center in the Arab region by liquefying gas and re-exporting it. The total current gas production in Egypt ranges between 6.5 to seven billion cubic feet of natural gas per day. Bloomberg expects foreign oil company investments in Egypt to increase by 35 percent, compared to the last fiscal year, during which investments amounted to $5.75 billion.

Source: Egypt Independent September 17, 2022 13:01 UTC