Egypt shines as an LNG importer
Egyptian LNG at Idku. (BG Group)
Directional impact on forecast:
Bullish on LNG prices
Egypt celebrated its first anniversary as an LNG importer in April by becoming the biggest purchaser of the fuel in the Middle East and Africa. While most of the LNG imported by Egypt is sourced from Qatar, the country is not shying away from diversifying its suppliers. However, Egypt’s reliance on LNG imports is expected to fall after 2017 as key domestic gas projects come online.