Egypt to import 3 LNG shipments monthly at $120M each

Updated 4/22/2024 10:32:00 AM
Egypt to import 3 LNG shipments monthly at $120M each

Arab Finance: Egypt is seeking to import three shipments of liquefied natural gas (LNG) monthly, starting from July until October, for up to $120 million a month, an official source at the Ministry of Electricity told Asharq Business.

Each shipment of the three equals 3 trillion British thermal units (BTU), which could save an average of 100 million cubic feet of natural gas a day for power plants for 10 days, the official highlighted.

The Ministry of Electricity needs around 105 million cubic feet of natural gas and 10,000 tons of mazut daily this week to end the recurrent power cuts across the country, the source added.

The official also noted that the country could need further natural gas supplies, which could reach 135 million cubic meters, in the coming period, given the expected high temperatures.

It was reported on April 22nd that Egypt’s imports of Israeli natural gas are set to decline by 22% to 900 million cubic feet a day in summer, starting next June until September.

As of May, Egypt is reportedly planning to halt exports of LNG in order to meet the demands of power plants.

On April 8th, it was reported that the Egyptian Natural Gas Holding Company (EGAS) is looking forward to importing at least one shipment of LNG a month until July or August.

It was also reported on April 4th, that EGAS bought at least one shipment of LNG for delivery in May.

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