Egypt relies on renewable energy sources

Alexey Belogoryev, Research and Development Director of the Institute for Energy and Finance, commented to RIA Novosti and the Prime news agency on the possibility and expediency of Russia's participation in the construction of a regasification terminal and LNG supplies to Egypt.

The expert does not note any visible prospects for an increase in demand for liquefied natural gas (LNG) in Egypt. The country has two large LNG production plants, and Egypt was a net exporter of it until 2023. Since then, its gas balance has become scarce, but so far the gap between production and consumption is not so great, Belogoryev noted.

"A lot depends on the dynamics of renewable energy production and development - a lot of emphasis is currently being placed on them in Egypt, and more than half of gas consumption is in the electric power industry, so the active development of solar and wind generation can significantly reduce the increase in gas consumption by 2030. Therefore, for now, Egypt's plans to import LNG are rather of a medium-term nature," the agency's interlocutor explained.

Despite the uncertainty of gas demand in Egypt, in the face of restrictions from Western countries, Russia can consider this country as one of its sales markets. However, according to Belogoryev, the only way to maintain and expand Russian LNG exports is to create the demand and infrastructure necessary to ensure it.