Egypt is rushing to buy LNG cargoes to avoid widespread blackouts this summer, with the state-run EGAS releasing a tender seeking at least 17 shipments. The country, which had been exporting LNG since 2019, is now returning as a buyer due to energy shortages and rolling blackouts. Demand concerns and supply disruptions are expected to lead to higher and more volatile natural gas prices this summer, with Egypt tapping the market for LNG to ease the impact of extreme heat. The shift from LNG exporter to importer by Egypt is driven by robust demand and supply disruptions, with the country competing with the EU for LNG shipments. An active hurricane season in the US poses risks of disruptions to plants, and more LNG is being directed to Asia over Europe.
Egypt is bracing for another scorching hot summer full of crippling electricity cuts. News surfaced June 7 that the country — recently a significant energy exporter — is seeking up to 20 cargoes of LNG to cover demand, @sam_wendel writes https://t.co/MvuSsyM7gY
Egypt is bracing for another scorching hot summer full of crippling electricity cuts. News surfaced June 7 that the country — recently a significant energy exporter — is seeking up to 20 cargoes of liquefied natural gas (LNG) to cover demand, @sam_wendel writes…
Robust demand and supply disruptions are setting the stage for more LNG price spikes this summer ⚠️ 🇪🇬 Egypt flipped from an LNG exporter to an importer 🇺🇸 An active hurricane season risks disruptions to US plants 🇪🇺 More LNG is going to Asia over Europe https://t.co/hhRXvmFvIy
#Egypt Taps Market for LNG to Ease Impact of Extreme Summer Heat EGAS is seeking at least 17 LNG cargoes for delivery in summer North African nation has already suffered rolling blackouts https://t.co/y6HHG2b3lH
"Robust demand and supply disruptions are setting the stage for much higher — and more volatile — natural gas prices this summer." https://t.co/ToqxLzeytC #energy #NaturalGas #shale #fintwit #oilandgas #Commodities #ONGT #natgas https://t.co/YY6QJ9hXrP
Egypt plans to make its biggest purchase of LNG in years to avoid an energy shortage 🇪🇬 ⚠️ 🚢 State-run EGAS released a tender seeking to purchase at least 17 shipments for summer 🔁 Egypt, which had been exporting LNG since 2019, is returning as a buyer https://t.co/fwLNO7y6BP
"There are some demand concerns back on the radar. “Supplies are looking robust.” https://t.co/e8FitZYxaL #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #commodities https://t.co/ZMPJztWWz1
Egypt is rushing to buy LNG cargoes to avoid widespread blackouts this summer, increasing the competition with the EU https://t.co/XC8W0puqdm