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Egypt Not Set for LNG Exports from May

LNG

Egypt has halted all LNG exports from May onwards to meet is domestic needs according to local media reports.

  • LNG vessel Minerva Amorgos, that loaded from Egypt in a rare state of events April 19, is headed to the Swinoujscie terminal of Poland could be the last to load from Egypt this season according to Platts.
  • The country has instead switched to imports for the first time since 2018, one of which was delivered April 13 at Jordan's Aqaba terminal.
  • This delivery marked the first reported LNG usage of the Suez Canal since January.
  • "Aside from US feedgas deliveries, I think that the thing to watch for this summer is how much LNG is Egypt importing. It seems that they might be importing more than I expected, and this is likely to increase the tightness of LNG supply into Europe, which can be bullish for the TTF," Platts quoted a UK-based gas analyst.
  • Around 2015-2019 Egypt imported substantial volumes of LNG as its domestic gas balance changed, with home production unable to support domestic demand and exports according to ICIS.
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