Egypt eyes liquefied gas exports to Asian markets
For the first time in eight years, Egypt resumed operations of its two liquified natural gas stations in Idku and Damietta, a step many experts say would turn Cairo into a regional hub for LNG exports.
CAIRO — For the first time in eight years, Egypt resumed operations of its two liquified natural gas (LNG) stations in Damietta and Idku, north of Cairo, in a bid to restart exporting gas through China, Japan and India to Asia, and through Greece and Cyprus to Europe. This would turn Egypt into a major gas exporter with a positive impact on the national economy that has been dealt a severe blow due to the coronavirus pandemic.
In February, Egypt announced the launching of bids to expand excavation operations for gas and oil in the Mediterranean Sea, the Red Sea and the Western Desert.
It also began to export LNG trucks to China and India for the Asian market, after restarting the stations in Damietta and Idku on Feb. 22.
Egypt seeks to increase its LNG exports from the Damietta and Idku stations to reach 12.5 million tons annually, according to Egyptian Minister of Petroleum Tarek el-Molla, after a significant decline of exports last year following the coronavirus outbreak worldwide.
