Egypt LNG Market to Reach 4.5 MMT by 2025
Growing
demand from power and industrial sectors coupled with declining LNG prices to drive demand for LNG in Egypt through
2025
According
to TechSci Research report “Egypt LNG Market Demand &
Supply Analysis, By Region, By Application, By LNG Terminal, Competition
Forecast and Opportunities, 2011-2025”, LNG market in Egypt is projected to
surpass 4.5 MMT by 2025, due to rising demand from power and industrial sectors
in the country. Production of dry natural gas in Egypt declined at a CAGR of
7.17% during 2011-2015. Thus, imports of LNG in the country increased during 2011-2015,
and this trend is further anticipated to continue during the forecast period as
well. Ministry of Electricity announced capacity addition of 2.25 GW in August
2016, with an investment of USD2.2 billion. Therefore, growing demand for
electricity and rising application in various industries is expected to boost
demand for LNG in Egypt during 2016-2025.
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2011-2025"
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In 2015, Greater Cairo Region dominated
LNG market in Egypt owing to growing demand for power and rapid industrialization
in the region. Moreover, this region receives LNG supply from Ain-Sokhna
(Offshore)-BW Singapore and Ain-Sokhna (Offshore)-Hoegh Gallant terminals. Power
sector garnered highest market share in Egypt LNG market over the past few
years, and the sector is anticipated to continue dominate the market during the
forecast period as well. Expanding residential and commercial sectors across
the country are the major factors fueling demand for LNG from the power sector
in Egypt.
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“Domestic production of natural
gas in Egypt declined significantly over the past few years. However, demand
for LNG is continuously rising, thereby widening LNG demand-supply gap in Egypt.
Thus, import of LNG increased in the country during the same period. Cost
competitiveness of LNG imported against locally produced natural gas, expanding
storage capacities and installation of floating storage regasification unit
(FSRU), coupled with favorable government policies and easy availability of LNG
from Qatar, Algeria, Australia and Equatorial Guinea are projected to further
boost import of LNG in Egypt during 2016-2025.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Egypt LNG Market Demand & Supply Analysis, By
Region, By Application, By LNG Terminal, Competition Forecast and
Opportunities, 2011-2025” has
evaluated the LNG market across seven different regions in Egypt and provides statistics
and information on market structure, industry behavior and trends. The report
includes market projections and potential demand forecasting. The report intends
to provide cutting-edge market intelligence and help decision makers to take
sound investment evaluation. Besides, the report also identifies and analyses
emerging trends along with essential drivers, challenges, and opportunities
available in LNG market in Egypt.
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