Egypts LNG exports remain strong: S&P Global

The LNG has been produced from the Shell-operated Idku plant, which is the country's only operational LNG facility until the moment.

Some seven cargoes have been shipped from the plant since January 1^st, according to S&P Global Platts Analytics and Platts trade flow software cFlow.

That followed a total of 17 cargoes shipped during the fourth quarter of 2020, S&P Global said. This is compared with six cargoes exported in the January-March 2020 period, besides one cargo between the end of March and end-October last year.

Idku plant has reportedly prepared to load its first cargo for export in October 2020 after a three-month suspension.

The surge in Egypt’s LNG exports came in line with Italy-based Eni and partners preparations to restart the other LNG export facility in the country. Located in Damietta, the plant has been idled since 2012.

“Egypt is also set for a long-awaited boost to its LNG sector,” S&P Global said, attributing this to a deal reached by Eni last December to allow for the plant to restart during the January-March 2021 period.

Union Fenosa Gas joint venture, the operator of Damietta LNG, is reportedly going to load a test cargo from the plant on February 14^th, S&P Global revealed.

“Asked to comment by S&P Global Platts, an Eni spokesman said only that it was hoped operations at Damietta would resume [in the first quarter of 2021,” according to the statement.