Egypt exported 3.56mn tons of LNG for 1H 2022, up 5% on 1H 2021 for the highest first half figure since 2011.
Perhaps not surprisingly given global LNG trade dynamics, with Europe sucking in more cargoes as it seeks to cut imports from Russia, the proportion of Egyptian cargoes headed to Europe has surged. Whilst for 2021, some 79% of cargoes headed to Asia (MEES, 14 January) with just 15% going to Europe (including Turkey), for 1H 2022, 65% headed to Europe. Turkey is now the top destination for Egyptian LNG, taking 880,000 tons or 25% of the total over the first six months of 2022, followed by Spain with 560,000 tons and South Korea with 280,000 tons (see chart). (CONTINUED - 122 WORDS)