Egypt officially became a net exporter of LNG last year, bringing our gas hub ambitions ever closer: Egypt’s imports of liquefied natural gas (LNG) fell to zero in 2019 and exported USD 1.24 bn-worth of LNG, marking a nearly 150% y-o-y increase, according to Capmas figures released on Thursday. Oil Minister Tarek El Molla had been saying since 2018 that Egypt’s LNG imports would come to an end as of October of that year, and that Egypt would begin exports by January 2019 as more output from gas fields is connected to the national grid. Crude oil and butane gas imports also dropped last year, while exports of petroleum products rose 4.5% y-o-y to reach USD 4.9 mn.
