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Record Egyptian Power Demand Highlights LNG Needs

LNG

High temperatures in Egypt saw its power demand rise to its highest in history at 3500 megawatts on Thursday according to Attaqa, highlighting its need for extra LNG cargoes this year to avoid power cuts and shortages.

  • Egypt has fully awarded 20 cargoes of LNG for summer delivery, according to Reuters sources this week, after three more cargoes were added to an initial tender for 17 cargoes.
  • The tender will leave Egypt a net importer of LNG in 2024. Typically, the Arab nation is a net exporter.

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