Page 11 - DMEA Week 09 2023

DMEA TERMINALS & SHIPPING DMEA

Hungary will be able to import

liquefied natural gas from Egypt

EGYPT HUNGARY will be able to import liquefied nat- keenness to diversify their energy sources.
ural gas (LNG) from Egypt starting 2026 as the The two countries’ latest co-operation in the
Central European country seeks to diversify its energy field comes amidst extensive economic
energy sources away from Russia, the two coun- ties developed over decades. Trade exchange
try’s leaders agreed in Cairo. Hungary could between Egypt and Hungary amounted to
import LNG from Egypt via Greece following $400mn in 2021. Hungarian exports to Egypt
the development of the required infrastructure include machinery, electric generators, glass and
to guarantee its energy security organic chemicals. While Egypt exports cotton,
Late in 2021, Egypt, a major gas exporter, and fruits, vegetables, cement, fertilisers, carpets,
Greece agreed on expanding their co-operation ceramics and plastics.
regarding LNG supply and on examining the Also Egypt is a major tourism destination,
possibility of constructing a subsea gas pipeline with around 40,000 Hungarian tourists visiting
between the two states amid European countries’ the country in 2021.™

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