Egypt's to bolster gas supplies amid high summer demand
(MENAFN) According to statements from Egypt's petroleum Ministry spokesman Hamdi Abdel Aziz, the country's current natural gas production has reached a daily output of 5.7 billion cubic feet. Addressing concerns about meeting high summer demand, Abdel Aziz announced agreements for 21 shipments of liquefied Natural gas (LNG) and additional quantities of diesel to supplement the national energy supply.
The first LNG shipment under these agreements arrived on Monday and is currently being offloaded to bolster the national gas network. Abdel Aziz reassured that by the third week of July, Egypt anticipates sufficient stocks within the national gas network to stabilize supply conditions.
In response to escalating electricity demands exacerbated by population growth and urban expansion, Egypt recently issued tenders for the purchase of 20 LNG cargoes, marking its largest procurement of seaborne LNG. These measures are aimed at ensuring adequate energy reserves during the peak summer months from July through September, when air conditioning usage typically spikes due to rising temperatures.
Prime Minister Mostafa Madbouly emphasized the critical need for these imports, estimating a requirement of approximately USD1.18 billion worth of natural gas and diesel to alleviate ongoing power shortages exacerbated by successive heatwaves. Egypt's strategy underscores its proactive approach to managing energy resources and ensuring uninterrupted electricity supply amid growing domestic consumption pressures.
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