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The Egyptian liquefied natural gas (LNG) project Idku plant is preparing to load its first cargo for export after a three-month suspension, Reuters cited data intelligence provider Kpler on October 26th.
“Egyptian exports were already halted in late March as weak global LNG prices led to a total collapse in the number of shipments from the facility,” Kpler analyst Rebecca Chia told the news agency.
Chia added that LNG tanker Cape Ann will likely be the first LNG export cargo from Idku plant since late July.
The LNG facility exported seven cargoes totaling 0.45 million tons during 2020, compared with 57 LNG cargoes of 3.66 million tons last year, according to Chia.
LNG production at the plant has reportedly resumed earlier in October.
According to bp’s report, the Arab republic posted a 2.6% annual increase in LNG exports during 2019.
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