LNG

Egypt’s first LNG export since March this year marks a welcome change to the country’s protracted absence. However, market indicators suggest this export from Idku LNG was a one- off, with no follow up as market fundamentals remain unfavourable for the foreseeable future. By the same token, Egypt’s other LNG plant – Damietta LNG – is also slated to remain offline after a deal to restart the plant fell through in April, presumably due to gas pricing issues.

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