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Egypt Contracts All Fuel Required for Heatwave

LNG

Egypt has contracted for all the fuel it will need to end load-shedding power cuts this summer its Prime Minister Mostafa Madbouly said on Thursday, likely referring to the LNG cargoes it has sourced.

  • The country has been dealing with power shortages as cooling demand ramps up during the summer heatwave.
  • High temperatures in Egypt saw its power demand rise to its highest in history at 3500 megawatts last week.
  • Egypt has fully awarded 20 cargoes of LNG for summer delivery, according to Reuters sources, after three more cargoes were added to an initial tender for 17 cargoes.
  • Egypt is pulling in LNG cargoes again after the Hoegh Galleon FSRU set up at Ain Sukhna, south of Suez, in mid-June. The Hellas Athina delivered a first cargo on 1 July and it looks like Gaslog Hong Kong is also heading there too according to ICIS.
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