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Wednesday, 8 July 2020

Egypt gas exports under threat as Jordan seeks to curb imports

Egypt’s natural gas exports to Jordan look set to decline over time as the Hashemite Kingdom aims to generate half of its energy needs as part of its 2030 vision, up from its current 15% self sufficiency, Reuters reports. The move is both cost related, as the global pandemic has brought into sharper focus that it imports 93% of its total energy supplies — a sizable 8% of its GDP — as well as an effort to lean into a reliance on greener energy.

Falling demand from Jordan is already contributing to Egypt’s LNG oversupply. A healthy supply line had resumed after a rupture of natural gas supplies from Egypt from 2011-2015, a once dependable lifeline the report notes, but that may prove short-lived given Jordan’s new energy strategy.

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