Egyptian Petroleum Minister Tarek El Molla said on Thursday that the country’s two LNG export plants are running at a full capacity of 1.6 million bpd as it seeks to benefit from a spike in global gas prices. El Molla added that Egypt’s natural gas production was currently steady at between 6.5 and 7 Bcfd. However, he expected LNG exports to seasonally drop to 1 million bpd in April as domestic demand starts rising into the summer.
Egypt currently imports around 450 MMcfd of natural gas from Israel for re-export. Molla said Egypt sought to increase imports of Israeli gas to 600-650 MMcfd by the first quarter of 2022. A further increase would need a new pipeline, which could be constructed in 2024-2025, Molla added. Egypt also plans to export 60-65 MMcfd of gas to Lebanon, expected to start at the beginning of 2022.
