Egypt exported its first LNG cargo in five months on 19 September when the Minerva Amorgos lifted a cargo for TotalEnergies, which holds a 5% stake at the ELNG export facility’s 3.6mn t/y Train 1. The two-train ELNG plant is located at Idku and has total export capacity of 7.2mn t/y. It is jointly operated by UK major Shell and Malaysian state firm Petronas.
While it is not untypical for Egypt to have some level of gas surplus as the cooler autumnal period approaches and gas-for-power demand drops, this lifting comes despite LNG imports running at close-to record levels. Trading circles continue to speculate whether the cargo has been sanctioned to keep Idku running despite a lack of gas feedstock or whether Cairo is attempting to partly fulfil its contractual obligations to the offtakers at ELNG. (CONTINUED - 896 WORDS)
