Egypt

Egypt Buys Immediate LNG Shipment, Eyes Monthly Imports

Published on : 2024-04-29

The Egyptian Natural Gas Holding Company (EGAS) has secured a new immediate liquefied natural gas (LNG) shipment, set to arrive at Jordan's Aqaba regasification terminal between May 18th and 19th, according to Asharq Business citing Bloomberg.

Following conversion at the Jordanian facility, the LNG will be transported to Egypt. This purchase comes at a premium to the Dutch Title Transfer Facility (TTF), the industry benchmark.

Egypt plans to import three LNG shipments monthly from July to October, totaling up to $120 million each month. Starting May, Egypt will halt LNG exports to prioritize domestic power plant demands.

EGAS aims to import at least one LNG shipment per month until July or August, with the latest purchase scheduled for delivery in May. Additionally, EGAS is exploring the possibility of renting a gasification ship under a renewable five-year contract.

Egyptian Center of Excellence for Energy Transition Signs MoU with Carbon Limits

The Center of Excellence for Energy Transition, affiliated with the oil and gas sector, has signed a memorandum of understanding (MoU) with the Norwegian company Carbon Limits, which specializes in measuring and reducing methane emissions from the petroleum industry.