Egypt in talks to lease German LNG unit before summer
Updated 3/12/2025 11:15:00 AM
Arab Finance: Egypt is negotiating with Germany to lease a liquefied natural gas (LNG) unit to secure additional supplies ahead of rising summer demand, Asharq Business reported.
An Egyptian delegation is set to visit Germany this March to finalize contractual terms for the unit, currently operating at the Baltic Sea port of Mukran.
The contract under discussion includes relocating the German floating unit to Egypt’s coast, though no specific timeline has been provided.
Egypt, traditionally an LNG exporter, began importing gas last year to mitigate severe power outages during the summer.
Its shift to a gas buyer puts it in direct competition with Europe, which has increased LNG purchases following the loss of Russian pipeline supplies.
The talks also include a separate German plan to purchase Cypriot gas that would transit through Egypt’s LNG infrastructure.
Meanwhile, Egypt continues efforts to secure both immediate and long-term gas supplies.
Last year, it leased a floating terminal to import LNG at the Ain Sokhna port on the Red Sea.
Another terminal is expected from Jordan and will start operating in mid-2025.
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