Egypt Excels As a Key LNG Exporter to the EU: World Bank Report

The European Union (EU) has significantly increased its imports of liquefied natural gas (LNG) from Egypt, the United States of America, Angola, Norway and Qatar, the Middle East News Agency stated, quoting a World Bank report.

The LNG has been transported through pipelines from both Azerbaijan and Norway, and of these countries, only Egypt, the United States, and Angola have made significant progress in converting the gas associated with oil extraction into natural gas exports rather than flaring.

This came in an analysis by the Information and Decision Support Center (IDSC) in the Cabinet for everything related to global economic reports of interest to Egyptian affairs. The IDSC reviewed the World Bank report issued on 'tracking gas flaring activities in the world.'

The report indicated that the volumes of gas associated with oil extraction, which is being flared around the world, decreased by 3%, by 5 billion cubic meters, to record about 139 billion cubic meters. This brings it to its lowest level since 2010.