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Egypt to Buy One LNG Cargo Per Month Through Summer

LNG

Egyptian Natural Gas Holding Company is aiming to import at least one LNG shipment per month through July or August in order to avoid power supply shortages during the summer, sources told Bloomberg.

  • Egypt will need at least five cargoes for the summer, one of the sources said.
  • The firm is in talks with providers of FSRUs to secure a five-year contract, as the country plans to ramp up LNG imports during spring and summer, sources told Bloomberg last week.
  • EGAS recently purchased at least one shipment for delivery in the next month and is looking for several more, traders said last week.
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