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Egypt likely to import 20 LNG shipments in Q1 2025 to meet its rising domestic demand

Egypt plans to issue a tender seeking up to 20 cargoes of liquefied natural gas (LNG) to cover demand for the first quarter of 2025, Reuters reported quoting three trading sources.

The most populous Arab country has returned to being a net importer of natural gas this year, buying more than 50 cargoes so far in 2024 year and abandoning plans to become a reliable supplier to Europe.

The Egyptian General Petroleum Corporation (EGPC) is expected to issue the tender to buy between 15 and 20 cargoes of LNG, the sources said, without giving further details.

“Egypt’s demand for LNG will remain strong during 2025,” one of the sources said.

As reported earlier by LNGWORLDWIDE the Egyptian Ministry of Petroleum and Mineral Resources had planned to import seven shipments of LNG in October to meet the national gas network’s daily requirements. Of the seven shipments, six were to be received at Ain Sokhna Port and gasified on the FSRU Hoegh Galleon.

The seventh shipment was supposed to arrive at Aqaba Port in Jordan, where it was to be gasified and transported to Egypt.

These shipments were part of a larger contract for 20 LNG shipments set for delivery in the fourth quarter (Q4) of 2024.

Major suppliers, including bp, Shell, Total, and Glencore, are involved in the deal.

Egypt’s daily natural gas consumption is approximately 6.8 billion cubic feet, while domestic production stands at around 4.9 billion cubic feet.

The government has prioritized directing gas supplies to Egypt’s power plants and energy-intensive industries.

The Ministry of Petroleum is also exploring the addition of a FSRU unit at Ain Sokhna and the potential use of liquefaction facilities in Damietta and Idku to import LNG, Egyptian petroleum minister Karim Badawi was quoted.

editor@lngworldwide.com