Reported 7 months ago
Egypt is making its largest LNG purchase in years to address energy shortages exacerbated by extreme summer temperatures. The state-run Egyptian Natural Gas Holding Co. is seeking at least 17 LNG shipments for the next three months. This move comes as Egypt faces power and gas network strains, leading to blackouts and the necessity of restarting petrochemical and fertilizer plants. The purchase is expected to impact the global LNG market due to supply disruptions and high summer demand for cooling, with Egypt returning to LNG imports after a halt in 2018 to combat the adverse effects of ongoing heat waves.
Source: YAHOO