Thu. Jul 4th, 2024

Egypt is preparing to purchase liquefied natural gas from international markets to avoid fuel shortages, after six years of self-sufficiency.

The American agency “Bloomberg” reported that Cairo has inquired about the delivery of liquefied natural gas, starting next month and during the summer, but faces challenges due to the ongoing crisis in the Red Sea.

The gas is planned to be routed through a facility located in Jordan, marking a significant shift for Egypt, which significantly reduced its imports of liquefied natural gas in 2018 after increasing its domestic production from the “Zohr” field.

Despite Egypt’s efforts to establish its own floating terminal, it is currently seeking to use the Jordanian facility.

Former Egyptian Petroleum Minister, Osama Kamal, stated that Egypt’s energy consumption is greatly affected by temperature fluctuations between summer and winter, making it necessary to obtain stable energy sources.

Kamal added that the fluctuation in fuel prices has led to changes in its usage, as diesel was more costly for electricity generation compared to liquefied natural gas. However, the increase in gas prices in 2022 prompted Egypt to shift towards greater use of diesel.

Next summer is expected to witness an increase in electricity consumption, necessitating reliance on imports to meet the growing energy demand in the country.

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