Molla: We expand spot contracts to export LNG

Minister of Petroleum and Mineral Resources Tarek al-Molla said the exportation of LNG on a spot basis is helping Egypt further capitalize on global gas price hikes.

Molla said in statements on Monday 1/5/2023 during talks with Spanish Ambassador in Cairo Álvaro Iranzo that Egypt’s intensive drilling program is seeking to accelerate new discoveries and increase production.

He added that this will help support the local market and natural gas exports during the energy transition.

Talks between the two sides took up oil and petrochemical investment opportunities in Egypt and its role in energy security as well as the European Union’s (EU) efforts to overcome oil and gas industry challenges.