A recent report predicted that Egypt would close to becoming among the top 10 exporting countries of natural gas in the world, as it reached its full production capacity this year (2021) supported by the state's efforts Al-Hathitha to boost its exports of liquefied natural gas by restarting one of the most important production facilities.

And Bloomberg News indicated to the statements of Minister of Petroleum Tariq Al-Mulla, that the Damietta natural gas facility will be restarted by the end of next February, after an eight-year hiatus. / p>

Minister Al-Mulla added that the Damietta facility will process about 4.5 million tons of LNG annually, raising Egypt's production capacity to 12.5 million tons.

He explained that natural gas prices witnessed a decline during the year 2020 in conjunction with the outbreak of the Coronavirus pandemic, but the situation changed starting last October, as all our supplies were reserved for export Edco facility until the end of March.

He added that bids for exploring onshore and offshore energy will be offered by the two governmental companies: the Egyptian General Petroleum Corporation and EGAS, within the next two weeks.

According to data from the Bloomberg Economics unit, Egypt's contribution to the global supply of natural gas in 2019 was 1%, and it is on its way to becoming one of the top 10 exporting countries. For natural gas globally if it reaches its full production capacity this year.

Bloomberg said that restarting the Damietta facility, along with the (Edco) facility, whose exports witnessed a recovery, after its decline last year following the outbreak of the Coronavirus pandemic, represents a revival Of the liquefied natural gas sector in Egypt and supports the state's efforts to become one of the most important exporters in the world.

and indicated that Egypt plans to take advantage of its strategic geographical position to become one of the most important exporters to the European continent, which is currently seeking to move away from fossil fuels polluting the environment such as oil and coal, and to shift towards Clean energy sources.

The agency added that LNG prices have recovered since the end of last year thanks to positive developments related to Coronavirus vaccines, and prices within the Asian continent have increased significantly, coinciding with the advent of Winter season.