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LNG: Egyptian LNG Q1 2025 Demand Could Tighten EU Market: Platts

LNG
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Imports of LNG into Egypt in Q1 could further tighten the EU market as the latter looks to replace lost Russian flows with liquefied cargoes, Platts said.

  • Egyptian short-term demand for LNG is forecast to grow from 2.5m mt in 2024 to 2.57m mt in 2025, before peaking at 4.85m mt in 2027, Platts said.
  • Egypt is expected to import two cargoes by the start of November, a 70k mt cargo on Oct. 24, and a second of 70k mt on Nov. 4. Cairo will also boost its buying in Q1 2025, which could tighten global supply, Platts said.
  • Egypt has issued tenders to procure volumes in summer 24 and Q4 to meet domestic power needs.
  • During these periods, European gas and LNG prices have risen as sellers withhold offers to sell at a premium into Egypt.
  • The boost in Egyptian buying in Q1 will also come at a time when Europe must replace a likely loss of 42 mcm/d in Russian flows via Ukraine from January.

 

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Imports of LNG into Egypt in Q1 could further tighten the EU market as the latter looks to replace lost Russian flows with liquefied cargoes, Platts said.

  • Egyptian short-term demand for LNG is forecast to grow from 2.5m mt in 2024 to 2.57m mt in 2025, before peaking at 4.85m mt in 2027, Platts said.
  • Egypt is expected to import two cargoes by the start of November, a 70k mt cargo on Oct. 24, and a second of 70k mt on Nov. 4. Cairo will also boost its buying in Q1 2025, which could tighten global supply, Platts said.
  • Egypt has issued tenders to procure volumes in summer 24 and Q4 to meet domestic power needs.
  • During these periods, European gas and LNG prices have risen as sellers withhold offers to sell at a premium into Egypt.
  • The boost in Egyptian buying in Q1 will also come at a time when Europe must replace a likely loss of 42 mcm/d in Russian flows via Ukraine from January.

 

Keep reading...Show less