The Clap
According to Reuters, Egypt’s natural gas exports increased by 98% YoY in the first 4 months of 2022, reaching $3.89 billion.
The deets
The global rise in natural gas prices spurred gas-producing countries to maximize their production for the maximum benefit.
You should know
In April 2022, Italian company Eni signed an agreement with Egyptian state-owned company EGAS with the aim of increasing liquefied natural gas (LNG) production.
Why this matters
The current gas export volume is the highest export level since 2009. Gas exports in the first four months of 2022 come close to the total export volume in 2021.
