Egypt’s petroleum minister has said that his country aims to increase its oil and gas export revenues. This will include increasing liquefied natural gas (LNG) exports to eight million tons this year, compared with 6.1m tons in 2021. Tareq El Molla made the announcement in a speech on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
The minister pointed out that Egypt has the capacity to export up to 12 million tons of LNG annually. He added that Egypt’s revenues from the exports of gas, petrochemicals and petroleum products will reach $19 billion this year.
During the ministerial session held under the title “Secure and Sustainable Energy Transition”, Molla spoke about Egypt’s strategy to secure energy supplies, and how to link energy supplies for the transition towards sources with lower carbon emissions.
He said that Egypt is working toward developing energy sources of all kinds simultaneously, be they traditional energy sources, especially natural gas, or renewable sources like solar energy and wind. He also spoke about maximising cooperation with the countries that are members of the East Mediterranean Gas Forum (EMGF).