Jordan plans to import liquefied natural gas (LNG) from Qatar by 2014 to reduce rising energy costs. The government will invite bids to build an LNG terminal at the Red Sea Port of Aqaba within months. Jordan’s energy bill is expected at more than $5.5bn this year, or around 25% of its GDP. Jordan is turning to LNG to fuel its power plants after a gas pipeline from the Sinai region in Egypt was attacked repeatedly.
Source: Bloomberg – Byblos Bank Research