Egypt to export liquefied natural gas to Spain next month

Egypt will begin, as of next month, to export $ 500 million worth of liquefied natural gas to Spain in annually via the Damietta gas liquefying station, Egyptian Ambassador to Spain Mohamed El-Emire Khalil said Tuesday.

The Damietta station was built with Spanish investments, he told MENA on the occasion of President Hosni Mubarak's visit to Spain that begins today.

The volume of Spanish investments in Egypt in the liquefied natural gas field stand at $ 1.1 billion in addition to investments in other fields, he said.

Egyptian-Spanish relations are solid and are witnessing a surge on its various fronts, he added.

The volume of bilateral trade exchange has reached from January to October 2004 around $ 700 million, with Egyptian oil exports making up 16 % of the volume, he said.

The figures will rise once Egypt begins its liquefied natural gas exports to Spain, he added.