Egypt becomes Arab World’s biggest LNG exporter in Q2 2021: OAPEC

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By Arab Finance Published: August 22, 2021 10:04 PM

The Arab countries’ total global market share of the world’s exports of liquified natural gas (LNG) amounted to 30% during the second quarter (Q2) of 2021, according to a report conducted by Expert Engineer at the Organization of Arab Petroleum Exporting Countries (OAPEC) Wael Hamed Abdel Moati.

Egypt captured the lion’s share of the Arab World’s total LNG exports, as its total exports of LNG amounted to around 1.4 million tonnes in Q2 2021, the report highlighted.

It is worth noting that Egypt has not exported any shipments of LNG during Q2 2020 due to lower prices in global spot markets.

The Arab countries’ total exports of LNG grew by 11.9% year-on-year (YoY) to 28.3 million tonnes in Q2 2021, versus 25.3 million in Q2 2020, the report showed.

The report attributed the growth in the Arab world’s total exports to higher exports from Qatar, Alegria, and Egypt as well as to gas liquefaction plants in the UAE and Oman that maintained operations with full capacity.

Qatar’s LNG exports stood at around 19.6 million tonnes in Q2 2021, marking a growth rate of 3.7% YoY, while Alegria’s exports of LNG rose by 6.9% YoY to 3.1 million tonnes in the same period.

Meanwhile, Oman’s LNG exports increased by 23.8% YoY to 2.6 million tonnes, and the UAE’s exports reached 1.6 million tonnes in Q2 2021, the report added.

Moreover, the report highlighted the growing number of the Arab Countries interested in hydrogen production projects to seven countries, namely the UAE, Alegria, Saudi Arabia, Iraq, Egypt, Oman, and Morocco.

Arab Finance
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