Egypt

Egypt Boosts LNG Import Capacity with FSRU Charter – The Offtake

A roundup of news and commentary from the global gas market Egypt has secured a floating storage and regasification unit from Höegh LNG Holdings Ltd. to secure more natural gas imports to the energy-hungry country as the outlook for its exports to the global market dims. Egyptian Natural Gas Holding Co. has brokered a deal…

May 2, 2024
Egypt Again Halts LNG Exports to Meet Domestic Demand This Summer 

Egypt Again Halts LNG Exports to Meet Domestic Demand This Summer 

Egypt has halted all LNG exports beginning in May as lower domestic natural gas production has forced the North African country to divert supply to local power demand during the summer months. Last year was Egypt’s hottest summer on record, with temperatures surpassing 95 F. This summer is forecast to have similar temperatures. Egypt’s Ministry…

April 30, 2024
Russian LNG Output Reportedly Down Amid Western Sanctions – Three Things to Know About the LNG Market

Russian LNG Output Reportedly Down Amid Western Sanctions – Three Things to Know About the LNG Market

NO. 1: The Biden administration has rejected a proposal from House Speaker Mike Johnson (R-LA) to tie a national security package to a temporary pause on new LNG export authorizations.  Johnson reportedly wanted to advance aid for Ukraine and Israel in exchange for lifting the pause imposed in January by the Biden administration. The administration…

April 4, 2024
BP, Adnoc East Mediterranean Partnership to Advance Egyptian Natural Gas

BP, Adnoc East Mediterranean Partnership to Advance Egyptian Natural Gas

Abu Dhabi National Oil Co. (Adnoc) and BP plc are creating a joint venture (JV) focused on Egyptian natural gas production as conflict in Israel and Palestine continues to pressure Eastern Mediterranean energy exports. The new JV, majority-owned by BP (51%), would include the London-based major’s interest in three offshore development concessions, as well as…

February 20, 2024
Egyptian LNG Exports Lifted by Return of Israeli Feed Gas

Egyptian LNG Exports Lifted by Return of Israeli Feed Gas

Egypt’s LNG exports have bounced back this month after domestic gas shortages and war in Israel have curbed output this year. Kpler data showed this week that Egypt has exported three full cargoes so far this month and a fourth vessel has a port call for Idku on Thursday. One of those cargoes is destined…

December 20, 2023
European Natural Gas Prices Gain as Egypt Says Pipeline Imports Stop – LNG Recap

European Natural Gas Prices Gain as Egypt Says Pipeline Imports Stop – LNG Recap

Egypt’s government said Sunday that its natural gas imports have stopped as Israel intensified its fight against Hamas in Gaza.  Natural gas prices in Asia and Europe stabilized Monday after declines last week. The market again braced for the possibility of a broader conflict in the Middle East.  Egypt said Sunday that gas supplied from…

October 30, 2023

LNG Tanker Cancels Arrival at Idku LNG in Egypt After Drop in Feed Gas Amid Israeli Conflict – The Offtake

A roundup of news and commentary from NGI’s LNG Insight A vessel has canceled its arrival at the Idku LNG terminal in Egypt, where feed gas deliveries have been reduced by Chevron Corp.’s move to shut down the Tamar gas field offshore Israel after war broke out there earlier this month.  Egypt resumed loading cargoes…

October 24, 2023
War, Labor Strikes and Possible Sabotage Spook LNG Market as Winter Nears

War, Labor Strikes and Possible Sabotage Spook LNG Market as Winter Nears

Israel’s war against Hamas has done little so far to disrupt global natural gas supply balances, but a confluence of factors have combined in a short period of time to shatter the perceived sense of calm that had prevailed over the market heading into winter. “I don’t think fundamentals have changed at all, however, sentiment…

October 13, 2023
Egypt Signals Return of LNG Cargoes as Global Prices Continue to Plunge

Egypt Signals Return of LNG Cargoes as Global Prices Continue to Plunge

Egypt has resumed loading LNG cargoes after months of absence from the export market, adding a further supply buffer for Europe as prices continue dipping. A ship controlled by TotalEnergies SE loaded at the Idku liquefied natural gas terminal in Egypt Thursday (10/5) before making a possible voyage to an import terminal in Europe, according…

October 5, 2023
Egypt Resumes LNG Exports, but Production Declines Threaten Overall Output

Egypt Resumes LNG Exports, but Production Declines Threaten Overall Output

Egypt plans to resume LNG exports in the fall after curbing them to meet domestic power demand, according to Energy Minister Tarek el-Molla. However, the combination of continued high temperatures and Egypt’s declining feed gas supplies could impact future liquefied natural gas exports. According to Kpler analyst Laura Page, Egyptian LNG exports have posted year-over-year…

August 8, 2023
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