Cairo Plans Bumper Winter LNG Imports But Power Cuts May Return

13 Sep 2024 Issue: 67 / 37 By: Peter Stevenson

Egypt is set to import another 20 cargoes of LNG in Q4 and a similar volume in Q1 next year as it looks to plug a gas deficit left by a continuing output decline. Imports from Israel are up but have failed to fill the gap.

Egypt’s gas and power problems look set to continue into the new year with Cairo this week awarding a tender for 20 LNG cargoes for Q4 delivery, although no official announcement has been made. It is also mulling importing similar volumes in Q1 next year, a government source told local media this week.

Already for Q3, the country’s LNG imports have surged to a seven-year high. Of a 20-cargo import tender awarded for Q3 delivery (MEES, 28 June), some 16 cargoes have already unloaded, with Trafigura (five cargoes), TotalEnergies (three) and Vitol (two) the key suppliers, Kpler data indicate. June, the first full month of operations of Egypt’s Hoegh Galleon FSRU, saw imports of 505,000 tons, the highest monthly figure since 2017. (CONTINUED - 907 WORDS)