SINGAPORE/LONDON: Egypt’s liquefied natural gas exports are expected to rise in October from the previous month, trading and industry sources told Reuters on Wednesday.
Egypt’s natural gas company recently issued a sell tender on a free-on-board basis loading Oct. 31-Nov. 1 from the country’s Damietta plant, an industry source in Singapore and a trading source in Europe said.
“Last October we had only one cargo loading out of Egypt, but this year we’ve already had five in the first half of October alone,” said Laura Page, a senior LNG analyst at data intelligence firm Kpler
She added that Egypt has exported 4.3 million tons of LNG in the first nine months of this year, up from 0.45 Mt a year earlier, due to rising domestic gas availability and an improvement in the pricing environment.
“As domestic gas availability rises, Egypt has increasingly been able to meet domestic gas demand and allocate surplus production for export,” she said.
LNG prices continue to soar as buying ahead of winter starts