Skip to content Skip to Search
Skip navigation

Egypt’s gas exports to Europe reach 60% in 2022

By Pramod Kumar
Person, Human, Pipeline REUTERS/Hannibal Hanschke
Nearly four million tons of LNG was exported in 2022 from Damietta plant

Egypt exported 60 percent of its natural gas production from Damietta liquefaction plant to Europe for the first time, according to a local media report.

The plant has exported 7.2 million tons of natural gas, Egypt Independent newspaper said, citing the ministry of petroleum and mineral resources.

Nearly four million tons of liquefied natural gas (LNG) was exported in 2022, the largest in the plant’s almost 20-year history.

This makes it the top plant in Egypt in liquefied natural gas exports, the ministry stated, as it contributes to boosting Egypt’s role as a regional energy hub in the Mediterranean region.

The plant has successfully produced and exported its 500th shipment of liquefied natural gas since it started operating in 2005, the report said.

Production at the plant ceased for eight years before resuming in February 2021.

The Damietta liquefied natural gas plant has been operating through the Natural Gas Holding Company and Eni, which has been working in Egypt since 1954 through its company, Eooc.

Eooc is currently the largest producer in Egypt, with a production share of hydrocarbons amounting to nearly 350,000 barrels per day.

During 2022, Eni produced about 60 percent of the total gas produced in Egypt, the newspaper said.

Latest articles

Saudi esports Savvy Games Video length: 05:07

Saudi Arabia plays the long game in a high-stakes market

Saudi Arabia has so far channeled $38 billion into the esports sector through its Public Investment Fund subsidiary Savvy Games Group. This includes high-profile acquisitions such as the $4.9 billion purchase of the Monopoly Go developer Scopely and the $1.5 billion buyout of ESL FaceIt Group, one of the world’s largest esports companies. Critics have […]

Mashreq Bank sells Neopay

Mashreq sells majority stake in NeoBank in $385m deal

Mashreq Bank has sold a 65 percent stake in its subsidiary IDFAA Payments, more commonly known as NeoPay, in a deal worth $385 million. The Dubai-listed lender sold the stake to Bahrain-headquartered alternative asset manager Arcapita Group Holdings Limited and Turkish fintech company Dgpays SARL, according to a bourse filing. It said Mashreq would retain […]

The global titans in the cloud computing market are jostling to get a foothold in Saudi Arabia

Global cloud platforms offer Saudis data protection promises

Saudi Arabia’s cloud computing market is heating up as global players find a footing in the country with promises to secure government information.  Saudi Arabia has set aside $18 billion to become a regional leader in cloud computing, the Saudi Data and AI Authority said this week, allowing foreign companies to open data centres.  Saudi […]

Water, Waterfront, Shipping Container

Turkish exports to the UK hit all-time high

Turkey’s exports to the United Kingdom reached a record high in the first eight months of 2024, according to official data. Exports rose 11 percent year on year to $8.3 billion between January and August, Anadolu Agency reported, citing data from the Turkish Exporters Assembly. The automotive sector led the way, with exports reaching $2.7 […]