Egypt to lease German gas liquefaction unit to boost production

Egypt to lease German gas liquefaction unit to boost production

In an effort to address its declining gas production, Egypt plans to lease a floating gas liquefaction unit from Germany, according to the Egyptian petroleum ministry. The most populous Arab nation is striving to increase output at its Zohr offshore gas field to meet surging domestic demand. Discussions about the lease occurred between Egypt's Petroleum Minister Karim Badawi and Germany's Philipp Steinberg at the CERAWeek conference in Houston. Additionally, the ministers explored Germany's potential acquisition of Cypriot gas for re-export via Egypt. A delegation from Egypt will visit Berlin later this month to finalize the agreement.

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