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Monday, 1 July 2019

Egypt wants to almost quadruple the value of natural gas exports to USD 2 bn in FY2019-2020

Egypt wants to almost quadruple the value of natural gas exports to USD 2 bn in FY2019-2020: The government is looking to export 12 mn tonnes of natural gas worth USD 2 bn in FY2019-2020, compared to USD 580 mn in the past year, the local press reported, citing an unnamed EGAS source. Egypt is seeking to increase average daily exports to 1.56 bcf/d through LNG terminals in Idku and Damietta, and the Jordan pipeline. Natural gas exports averaged 500 mcf/d in FY2018-2019.

Higher gas production equals more gas to export: Additional gas flows from Zohr and other fields in the Mediterranean will allow energy companies to meet their supply obligations for the government and export the surplus, the official said.

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