Egypt exports new LNG cargo to Canada as gas output expansion gains pace

Egypt’s Ministry of Petroleum and Mineral Resources said it exported a new liquefied natural gas (LNG) cargo from the Idku LNG complex on the Mediterranean coast, destined for Canada on behalf of France’s TotalEnergies (TTE: EPA), Asharq Business reported on January 12. 

The shipment, amounting to around 150,000 cubic metres of LNG, comes as part of the ministry’s strategy to encourage foreign partners to step up investment in Egypt’s gas sector and maximise economic returns from existing infrastructure.

In Q4 2025, Shell (SHEL: LSE) exported three LNG cargoes from Egypt’s liquefaction facilities to Greece, Italy and Turkey.

Ownership of the Idku LNG plant is split between international and state partners. Shell and Petronas jointly hold about 71% of the facility, while the Egyptian government—through the Egyptian General Petroleum Corporation and Egyptian Natural Gas Holding Company (EGAS)—controls roughly 24%, with the remaining 5% held by TotalEnergies.

Egypt is targeting a rise in natural gas production to 6.4–6.6bn cubic feet per day over the next five years, supported by major investments from global energy companies. Petroleum Minister Karim Badawi said planned investments include $8bn by Italy’s Eni (ENI: BIT) and $5bn by BP (BP: LSE).

Badawi added that 2026 will see the drilling of 14 exploratory wells in the Mediterranean, targeting estimated reserves of around 12 trillion cubic feet of gas, as Egypt accelerates the development of new discoveries to cut import bills and strengthen energy security.