Minister of Petroleum and Mineral Resources Karim Badawi said Egypt’s liquefied natural gas (LNG) plants at Damietta and Idku provide the country with a unique competitive advantage, reinforcing its position as a regional hub for energy trading and commerce.
Speaking during an inspection tour of the Damietta LNG Plant, northwest of Damietta Port, on Friday, Badawi said the ministry is implementing a comprehensive strategy to maximise the value of Egypt’s advanced LNG infrastructure, describing the two plants as among the petroleum sector’s most strategic assets.
He said the facilities are fully prepared to receive natural gas from Cyprus, liquefy it and re-export it to international markets, adding that the ministry is working to maximise their economic returns and generate greater added value in support of Egypt’s economy and competitiveness in regional and global energy markets.
Badawi noted that Egypt’s integrated LNG infrastructure offers significant opportunities to attract new investment and expand strategic partnerships with international energy companies. He highlighted the ongoing co-operation with Cyprus and investment partners in both countries to commercialise Cypriot natural gas resources through Egypt’s liquefaction facilities.
During the visit, the minister inspected the plant’s operational facilities and reviewed its production capabilities, as well as its system for receiving and storing imported LNG cargoes, which are unloaded at the terminal and stored in dedicated tanks. He directed officials to continue maximising the utilisation of the plant’s infrastructure to enhance asset efficiency and ensure its sustainable operation.
Commissioned in early 2005, the Damietta LNG Plant was Egypt’s first liquefied natural gas project and remains one of the country’s flagship energy assets. The facility is expected to play a pivotal role in processing and exporting natural gas from Cyprus once production from the island’s offshore fields begins.
