1 day ago · To meet demand in the hot summer months when gas is required for air-conditioning, Egypt bought dozens of LNG cargoes on the spot market, where it had to pay a premium between of $1-$2. Adding to the financial strain on Egypt, which faces a shortage of foreign currency, LNG spot prices have risen in 2025 to an average of more than $14 per ...

11 hours ago · To meet summer demand for air-conditioning, Egypt purchased several LNG cargoes on the spot market, paying a premium of $1–2. With LNG spot prices in 2025 averaging more than $14 per million British thermal units (MBtu), up from $12/MBtu when Cairo began tendering, the financial strain on Egypt is increasing, especially in light of its ...

By Marwa Rashad LONDON (Reuters) - Egypt has signed deals worth around $3 billion with Shell and TotalEnergies to secure 60 cargoes of liquefied natural gas (LNG) to cover demand for 2025, three ...

Egyptian LNG’s strategy asserts that success will be achieved through competent people effectively operating processes in a performance driven context. At Egyptian LNG, talent and human capital is fundamental to our success owing to the company staff who bring together many years of LNG experience. We furnish our leaders to nurture and ...

Egypt has secured 60 cargoes of liquefied natural gas (LNG) for 2025 through agreements with Shell and TotalEnergies valued at approximately $3 billion, Reuters reported on Thursday. Egypt, the ...

Nov 20, 2024 · Egypt is in talks with U.S. and other foreign companies to purchase long-term volumes of liquefied natural gas (LNG) as it seeks to cut its reliance on more costly spot market purchases to meet ...

Aug 26, 2019 · Egyptian LNG infrastructure facilities. Encompassing 165ha, the project site lies 3km away from Idku town, along the Mediterranean Sea coast of Egypt. Primary infrastructure facility for the project includes two cryogenic tanks with 140,000m³ gas storage capacity each and a marine terminal with loading jetty and associated marine facilities.

Sep 13, 2024 · Egypt has bought 20 cargoes of liquefied natural gas (LNG) via the first tender issued to cover its winter demand since 2018, securing full volumes it was seeking at smaller than expected premiums ...

Nov 21, 2024 · LNG spot prices have climbed to $14.50 per million British thermal units (mmBtu), up from $12/mmBtu when Egypt initially sought LNG cargoes, exacerbating financial pressures amid the country’s ongoing foreign currency shortage. Egypt is also enhancing its infrastructure at Ain Sokhna and Alexandria, the news agency said.

Sep 21, 2021 · Egypt is currently the fastest-growing Arab exporter of liquefied natural gas (LNG), according to a report released by the Organization of Arab Petroleum Exporting Countries on Aug. 16. The report showed that Egypt exported around 1.4 million tons of LNG in the second quarter of 2021, having not exported any LNG during the same period in 2020.