The Egyptian government has successfully secured 20 shipments of Liquefied Natural Gas (LNG), valued at approximately $907 million, to meet the country’s energy demands from October through December 2024, according to Reuters. These shipments will ensure a stable supply of natural gas during the winter months.

Under the administration of the Egyptian General Petroleum Corporation (EGPC), this deal incorporates a deferred payment plan extending over six months. This marks Egypt's first winter LNG procurement tender since 2018.

Prominent industry players including Glencore, Gunvor, MEX International, Trafigura, Vitol, Hartree, BB Energy, TotalEnergies, Shell, Saudi Aramco, and BP have been selected as key suppliers. Notably, Saudi Aramco will be delivering the largest portion, with 6 to 7 shipments, while the remaining companies will contribute 1 to 3 shipments each, according to S&P Global.

Of the 20 shipments, 17 are scheduled for Egypt’s floating import terminal at Ain Sokhna, while 3 will be directed to Aqaba, Jordan. This is one of the largest procurement initiatives managed by EGPC to date, with the tender deadline set for September 12th.

The competitive bidding process attracted over 15 global suppliers, offering rates significantly below market expectations—reportedly 30-40% lower than projected. The accepted bids were priced around $1 per million British thermal units (BTU), compared to the current benchmark of $0.60 per million BTU for the Dutch TTF.

In total, Egypt will receive seven LNG shipments in October, six in November, and seven more in December. Furthermore, a government source indicated plans to import an additional 17-20 LNG shipments during the first quarter of 2025 to meet future energy requirements.