Egypt’s imports of Israeli natural gas up 18% as of August
Updated 8/28/2024 9:24:00 AM
Arab Finance: Egypt’s daily imports of Israeli liquified natural gas (LNG) increased by 18% as of August to nearly 1 billion cubic feet, compared to 850 million cubic feet daily in July, government officials told Asharq Business.
Since the beginning of August, gas imports from Israel have been on the rise, reaching a maximum of 950 million to 1 billion cubic feet per day due to a decline in demand in Israel during August, an official said.
In addition to receiving natural gas imports from Israel, Egypt’s national natural gas grid receives an average of 300 million cubic feet of natural gas daily at Aqaba port, another source said.
It is worth noting that Egypt’s daily needs of natural gas amount to 6.2 billion cubic feet, while its daily production is around 4.6 billion cubic feet. The government aims to increase natural gas production by the end of this year to about 5 billion cubic feet a day.
The Egyptian government is reportedly planning to import 22 shipments of liquified natural gas (LNG) during August and September to meet the fuel demand of power plants.
It was reported earlier this month that the Ministry of Petroleum and Mineral Resources received the 10th shipment of the 21 agreed-upon LNG to meet the state’s demands for power plants and fertilizer factories.
It is worth noting that Egypt is reportedly planning to import up to 17 new shipments of LNG during the fourth quarter (Q4) of this year.
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