Egypt to receive 2 LNG shipments in December

Updated 12/3/2024 6:29:00 AM
Egypt to receive 2 LNG shipments in December

Arab Finance: The Ministry of Petroleum and Mineral Resources is set to receive two liquefied natural gas (LNG) shipments in December, each ranging between 30,000 and 50,000 cubic meters, an unnamed government official in the know told Al Arabiya Business.

The shipments will be directed to the Höegh Gallant floating storage and regasification unit (FSRU) before being pumped into the national gas grid.

The Egyptian Natural Gas Holding Company (EGAS) will receive the two shipments at Sumed Port, enhancing domestic gas availability as local demand declines.

The shipments are part of a broader strategy to meet the country’s gas needs for industrial use and power generation.

Initially, between six and eight shipments were planned for December, as part of 20 contracted shipments for the last quarter of 2024.

However, several shipments have been deferred to early 2025 due to adjustments in power plant consumption patterns.

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