03-11-04
Egypt could become the world's sixth-largest exporter of liquefied gas in 13
months, according to Sameh Fahmy, the country's Minister of Petroleum. Fahmy
added that LNG exports to France from the Edku project north of Egypt would
start earlier on May 2005 instead of December next year. Fahmy boasted that Egypt's LNG exporting unit in Damietta was one of the
world's largest in terms of capacity. The total annual capacity of Damietta's
LNG project stands at 7.5 bn cm. The country's energy exports are expect to surge to $ 10 bn by 2010 boosted
by liquefied gas exports.
Source: LiquidAfricaEgypt likely to become sixth-largest exporter of liquefied gas
"Exports of liquefied gas to Spain will start in December this year while
the next year will see expansions to the Italian and US markets," the
minister said.
"Egypt has simultaneously built two major LNG projects in Edku and Damietta
with investment costs of LE 3.2 bn," the minister said.
Total oil exports in the 2003/4 fiscal year hit 18.6 mm tons valued at $ 4.2 bn,
including petrochemicals and oil products.