Research and markets has announced that Egypt LNG Market Demand and Supply Analysis- By Region, By Application, By LNG Terminal, Competition Forecast, and opportunities- 2011-2025 report to their offering.
The LNG market in Egypt projected to surpass 4.5 MMT by 2025.
In 2015, Egypt recorded highest imports of LNG in Middle East & Africa. The country majorly imports LNG from Qatar, Algeria, Australia and Equatorial Guinea.
Moreover, increasing demand for LNG from various end use sectors and decreasing LNG prices in comparison to other alternative fuels are anticipated to drive LNG market in Egypt during 2016-2025.
Egypt was an exporter of LNG till 2014. However, natural gas production in Egypt declined over the past few years, and at the same time demand for LNG increased continuously due to rising demand from power and industrial sectors in the country.
Thus, from being an exporter of LNG, Egypt currently imports LNG to address domestic demand.
Moreover, Egyptian Natural Gas Holding Company secured a long-term contract from Gazprom and Sonatrach to supply 15 BCM of LNG to Egypt by 2020.
Also, several companies operating in Egypt LNG market are increasing focus on using Floating Storage and Regasification Units (FSRU) for faster commissioning of LNG and to also reduce cost of importing LNG.
Furthermore, in order to reduce natural gas demand-supply gap in the country, imports, and local production of LNG in Egypt is forecast to rise through 2025.
Source: PR news wire