Egypt’s EGAS receives new LNG shipment

The Egyptian Natural Gas Holding Company (EGAS) has received a new shipment of liquefied natural gas (LNG) via a global regasification vessel at Ain Sokhna port. The LNG is being readied for integration into the national gas grid to supply the country’s power plants.

The Ministry of Petroleum had received eight LNG shipments until the end of July, all allocated for power plants, following the government’s decision to halt electricity load-shedding.

EGAS plans to contract additional LNG shipments in September to meet local fuel demands of power plants and energy-intensive factories. A total of 26 shipments have been contracted so far, including 21 from early July and five from a tender issued at the end of July.

The ministry is also considering adding a floating storage and regasification unit at Ain Sokhna and utilising existing liquefaction facilities in Damietta and Idku in reverse mode.

Notably, the ministry is intensifying efforts to adjust development plans and negotiate with foreign partners, focusing on settling overdue payments and implementing regular payment mechanisms to prevent debt accumulation. Several global companies, including Trafigura, Vitol, Glencore, and Saudi Aramco, are supplying LNG to Egypt.

Attribution: Amwal Al Ghad

Subediting: M. S. Salama