Drilling platform in the Gulf of Suez
Egypt LNG restart optimism no substitute for gas strategy
The high-profile restart of the Damietta facility has ramped up rhetoric and expectations. But it may not be as simple as that
Egyptian authorities have hailed the first cargoes from the 7.56bn m³/yr (5.3mn t/yr) Damietta plant, after almost nine years of inactivity, as a boost to the country’s profile as an LNG exporter and to its role as a potential regional hub in the East Mediterranean. But, beyond the short-term monetary benefit of LNG exports, the impact of the global pandemic on wider LNG prices and on Egypt’s finances highlights the need for a sustainable and long-term policy that integrates the country’s gas sector priorities. That must include the role and price of gas in the domestic market and economy and the need to incentivise upstream activities, as well as the benefits of LNG as a revenue source and
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
