RES E A RC H & A N A LYS I S
A DETAILED REVIEW FOR
THE SUEZ CANAL & EGYPT’S L TRADE (2015-2019) BY AMINA HUSSEIN, REHAM GAMAL, AND TASNEEM MADI
E
gypt has reclaimed its position as the hydrocarbons regional hub, especially when it comes to natural gas. In fact, the country has conve net importer to being a net exporter in 2018. This phenomenon happened as a result of the major natural gas discoveries that increased The major developments in natural gas production were combined with the exceptional infrastructure that paved the country’s path to b hub. Egypt has one of the largest liquified natural gas (LNG) infrastructures in the region, which include two liquefaction plants located in Idku On the other hand, Egypt has one of the most important navigation imports canals in and thefurther started to export, according to BNP Paribas’ study on world that plays a significant role in the international trade of LNG, the oil and Suez gas Canal. industry in 2017. Over the past five years, from 2015 to 2019, the Suez Canal witnessed the flow of 132.84 million tons (mmt) of LNG through both of its bounds, according to the Suez Egypt’s LNG Exports (mmt) Canal Authority (SCA) data. Hence, this report presents Egypt’s position as a natural gas regional hub by shedding the light on both the country’s LNG exports and flows through the Suez Canal over the period between 2015 and 2019.
3.3
1. EGYPT’S LNG EXPORTS 1.5
Egypt’s annual average LNG exports reached about 1.25 mmt, during the period 0.9 from 2015 to 2019, while its total LNG exports over the same period were0.6recorded 50% 67% 125% at 6.25 mmt. There was no LNG amount exported in 2015, according to BP’s Annual Y Statistical Review of World Energy 2020. In 2014, the country completely2016 halted 2017 2018 2019 exports, turning into a net natural gas importer in fiscal year (FY) 2015/16, due to upstream underinvestment and increasing demand.However, in August 2015, the Egypt’s LNG exports have been experiencing increasing rates on an annu discovery of the giant Zohr gas field by Italy’s Eni brought a decisive turning point It is worth mentioning that LNG exports increased from 1.47 mmt in 2018 to the country’s status in the natural gas market. Egypt was able to halt its LNG than double the amount exported, reaching about 3.5 mmt in 2019, due 16 EGYPT OIL & GAS NEWSPAPER