Egypt seeks operating LNG plants at full capacity in 2023

Egypt is planning to fully operate its natural gas liquefaction plants at full capacity throughout 2023, Asharq Business reported on January 3rd, citing the Minister of Petroleum and Mineral Resources, Tarek El-Molla.

Egypt has two liquefaction plants, Damietta and Idku, with a total production capacity of 2.1 billion cubic feet per day.

It is worth noting that Egypt’s natural gas export revenue surged by 171% year-on-year (YoY) to around $8.4 billion in 2022 from around $3.5 billion in 2021.

The north African country achieved 53 new oil and gas discoveries in 2022.