Egypt Plans 15-20 Cargo LNG Tender

Egypt plans to issue a buy tender seeking 15-20 cargoes of liquefied natural gas (LNG) to cover rising demand for power during the summer, four industry sources – Reuters

• Egypt expects to import over 20 LNG cargoes over the summer to try and ease power shortages in the country – a huge step up for its imports Bloomberg reported Wednesday.
• The switch in Egypt from an exporter to an importer places greater pressure on available supplies for Europe as the North African country looks to refill inventories this summer while an Asian heatwave also places higher demand on the spot market.
• Egypt looks set to pull in the highest volumes of LNG since 2018 as it battles its own energy shortages against high temperatures.