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Egypt Exported 172.8 Bln Cubic Feet of Gas from Idku in 2018/19

Egypt became self-sufficient in natural gas in late 2018. (AP)
Egypt became self-sufficient in natural gas in late 2018. (AP)
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Egypt Exported 172.8 Bln Cubic Feet of Gas from Idku in 2018/19

Egypt became self-sufficient in natural gas in late 2018. (AP)
Egypt became self-sufficient in natural gas in late 2018. (AP)

Egypt exported 172.8 billion cubic feet of liquefied natural gas (LNG) in 45 shipments from its Idku plant in the 2018-2019 financial year, state-owned company EGAS said in its annual report.

Egypt became self-sufficient in natural gas in late 2018 and is seeking to become a regional hub for energy trading by liquefying gas and re-exporting it.

The oil minister said in March that Egypt was aiming to export 2 billion cubic feet per day by the end of 2019.

Royal Dutch Shell, Malaysia's Petronas, France's Engie and Egypt's two main state oil and gas companies, EGAS and EGPC, are all shareholders in the Idku plant.

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ECB's Lagarde Says 2% Inflation Target in Reach

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, June 5, 2025. REUTERS/Heiko Becker/File Photo
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, June 5, 2025. REUTERS/Heiko Becker/File Photo
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ECB's Lagarde Says 2% Inflation Target in Reach

FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, June 5, 2025. REUTERS/Heiko Becker/File Photo
FILE PHOTO: European Central Bank (ECB) President Christine Lagarde addresses the media after the ECB's Governing Council meeting, at the ECB headquarters in Frankfurt, Germany, June 5, 2025. REUTERS/Heiko Becker/File Photo

The European Central Bank's inflation target of 2% is in reach, ECB President Christine Lagarde was quoted as saying in an interview published on Saturday.

In the interview with China's Xinhua news agency earlier this week which was released on the ECB website, Lagarde said financial stability was a prerequisite for price stability.

"We are within reach of the 2% medium-term inflation target that we have defined as price stability," she said, according to Reuters.

Earlier this month, the ECB lowered its inflation forecasts for this year and next in the 20-nation euro zone, projecting inflation of 2.0% in 2025 and 1.6% in the coming year.

Lagarde also that the ECB's efforts to create a digital currency were getting to the point where, if lawmakers support the proposal, it should be ready to move forward.