Egypt increases natural gas imports to bolster national energy supplies
(MENAFN) According to a statement from Egypt's petroleum Ministry spokesman Hamdi Abdel Aziz, the country's current natural gas production stands at 5.7 billion cubic feet per day. Abdel Aziz also announced that Egypt has arranged for 21 shipments of liquefied Natural gas (LNG) to arrive during the summer, alongside additional quantities and shipments of diesel to bolster national energy supplies.
The first LNG shipment arrived on Monday and is currently being unloaded to integrate into Egypt's national gas network. Abdel Aziz expressed confidence that by the third week of July, the situation will stabilize, ensuring sufficient stocks in the national gas network to meet demand.
In response to heightened electricity demand during the summer months, Egypt recently awarded tenders to procure 20 cargoes of LNG, marking the largest-ever purchase of seaborne fuel by the country. This initiative aims to address the strain on natural gas supplies, crucial for electricity generation, exacerbated by population growth, urban expansion, and increased energy consumption from air conditioning during hot weather.
Prime Minister Mostafa Madbouly highlighted last month that Egypt plans to import approximately USD1.18 billion worth of natural gas and diesel to alleviate ongoing power outages exacerbated by successive heatwaves. These efforts underscore Egypt's proactive measures to ensure energy security and stabilize its electricity supply amid rising demand and climatic challenges.
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