The LNG shipments will be directed to the Höegh Gallant regasification vessel, currently stationed at Sumed Port in Ain Sokhna, before being fed into the national gas grid.
Egypt is expected to receive four shipments of imported liquefied natural gas (LNG) in April, according to a government official who spoke to Alarabiya Business.
The official stated that each LNG shipment is expected to contain approximately 80,000 cubic meters, highlighting that the Ministry of Petroleum remains committed to its international LNG agreements to help close the supply-demand gap, which averages over 1.5 billion cubic feet per day.
The LNG shipments will be directed to the Höegh Gallant regasification vessel, currently stationed at Sumed Port in Ain Sokhna, before being fed into the national gas grid.
According to data from Egypt's Central Agency for Public Mobilization and Statistics (CAPMAS), Egypt’s gas import bill surged to $4.9 billion in 2024, compared to $2.412 billion in 2023, marking an increase of $2.488 billion.
During a press conference in October, Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, stated that the country’s gas production had declined by 20-25% over the past two years, adding that more exploration activities are planned in the coming period.
Egypt secures its natural gas needs from multiple sources. The country produces around 4.8 billion cubic feet per day, imports varying amounts of Israeli gas, and covers the remaining market demand with LNG shipments from the global market.
If there are any changes in demand patterns, EGAS and the Egyptian General Petroleum Corporation (EGPC) will arrange for additional shipments.
To boost production, Egypt has introduced new incentives for foreign energy companies, allowing them to export a portion of new gas output and use the revenues to settle outstanding dues.
Additionally, the government has raised the purchase price for their share of newly extracted gas, according to a Cabinet statement released in late October.
According to the Joint Organizations Data Initiative (JODI), Egypt’s natural gas production fell by 16.7% in 2024, reaching 49.4 billion cubic meters, down from 59.3 billion cubic meters in 2023.
Meanwhile, gas consumption increased by 1.1% to 62.5 billion cubic meters, prompting Egypt to increase its gas imports by 70% to offset the production shortfall.
Imports totaled 14.6 billion cubic meters, including both LNG and pipeline gas.
On the export front, LNG exports have been halted since April 2024, except for a limited volume of 854 million cubic meters, according to JODI.
