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Article: Egypt eyes Suez Canal revenue, Mideast Gulf competition. (Horizon).(liquefied natural gas)
- Article from:
- World Gas Intelligence
- Article date:
- January 29, 2003
- Author:
CopyrightCOPYRIGHT 2003 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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While Egypt works toward launching first deliveries of its own LNG late next year, government coffers are already benefiting from the rising tide of spot cargoes of LNG flowing from the Mideast Gulf via the Suez Canal to Europe and the US--as well as the more sporadic Asian LNG tanker traffic to the US (WGI Jan.22,p3).
There's a potential downside. That Gulf LNG moving through the Suez is competing for the same European and US markets pursued by Egypt's own LNG projects. But industry sources downplay any impending clash, arguing that each region offers its own advantages and suggesting that the market can accommodate both.
Annual revenue from Suez Canal ...