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Home In Brief

Egypt's Suez Canal targets 15% share of global energy trade by 2040

by  Reuters and ILH Staff
Published on  01-13-2022 07:08
Last modified: 01-13-2022 14:10
Experts say Med Sea altered by Suez Canal's invasive speciesAP/Amr Nabil

The Suez Canal, connecting the Red Sea to the Mediterranean Sea, | File photo: AP/Amr Nabil

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Egypt's Suez Canal aims to have a 15% share of global energy trade by 2040, up from 8% in 2019, the canal authority said on Wednesday.

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The increase would come from "adopting flexible marketing policies", it said in a statement.

The Suez Canal is a major route for global energy trade. The Suez Canal Authority announced earlier in January that it achieved the highest revenue in its history during 2021, which recorded US $6.3 billion, compared to $5.6 billion in 2020, an increase of $720 million.

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