Kuwaiti Oil Barrel Price116.91 Date:29-06-2022

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(OAPEC): Arab countries' exports of liquefied gas increased to 28.3 million tons during the second quarter of 2021


The General Secretariat of the Organization of Arab Petroleum Exporting Countries (OAPEC) said that the total Arab countries' exports of liquefied natural gas during the second quarter of 2021 amounted to about 28.3 million tons, compared to 25.3 million tons during the same quarter of last year, with an annual growth rate of about 11.9 percent. . OAPEC added in a specialized report issued today, Monday, entitled (Developments of Liquefied Natural Gas and Hydrogen during the second quarter of 2021), that this growth came thanks to the growth of exports from Qatar, Algeria and Egypt, with the continued operation of liquefaction plants in the UAE and Oman at their full production capacities. The report stated that the Arab countries collectively acquired a global market share of about 30 percent, as the total exports of the State of Qatar amounted to about 19.6 million tons, with an annual growth rate of 3.7 percent, while Algeria's exports amounted to 3.1 million tons, with an annual growth rate of 6.9 percent. He indicated that Oman's exports amounted to about 2.6 million tons, with an annual growth rate of 23.8 percent, while the UAE's exports rose to 1.6 million tons, with a growth rate of 14.3 percent on an annual basis. He pointed out that the largest growth in Arab exports came from Egypt, which exported about 1.4 million tons, knowing that during the same period of the previous year 2020, Egypt did not export any shipments due to the decline in spot prices in global markets. He stressed the continued recovery of global demand for liquefied natural gas during the second quarter of 2021, as total exports amounted to 94.8 million tons, compared to about 84.9 million tons during the same quarter of 2020, i.e. an annual growth rate of 11.7 percent. He pointed out that with the entry of the second quarter of 2021, a wave of postponement of investments began affecting a large number of proposed liquefaction projects in several countries, except that the final investment decision was postponed in five projects with a total capacity of 45 million tons per year out of 14 projects on the investment list. He pointed out that the number of countries working on or actually preparing national plans and strategies for hydrogen increased to 31 by the end of the second quarter of 2021, while the total number of projects and plans announced for the production and exploitation of hydrogen reached about 359 projects distributed almost in all regions of the world. He stressed that these plans and projects reflect the magnitude of the international momentum and interest by governments, companies and international institutions to invest in hydrogen. On the Arab level, the report indicated that the number of Arab countries interested in investing in hydrogen production projects has risen to seven, including the UAE, Algeria, Saudi Arabia, Iraq, Egypt, Oman and Morocco. He added that the second quarter of 2021 witnessed remarkable activity on the part of the Arab countries in order to strengthen international cooperation and partnership in the field of hydrogen and to strive towards implementing giant projects. The report said that the planned hydrogen production and use projects in the Arab countries rose to 20, most of them for the production of green hydrogen and green ammonia with a total of 12 projects, while six projects were allocated for the production of blue hydrogen and blue ammonia and two projects for the use of hydrogen as fuel in fuel cell vehicles. He stressed the importance of the future role of the gas and hydrogen industry in the field of clean energy, calling for attention to this aspect and allocating the necessary investments in order to achieve a sustainable energy future.

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