Egypt Seeks Multi-Year LNG Supply Deals

Egypt is negotiating multi-year supply contracts with global energy majors, including Shell, TotalEnergies, and BP, to import 15 to 18 cargoes of liquefied natural gas per month for up to five years.

The talks aim to stabilise the country’s energy supply as domestic gas production continues to fall, with output expected to drop to 4.2 billion cubic feet per day this fiscal year.

Escalating geopolitical conflict involving Iran and Israel has restricted shipping through the Strait of Hormuz, driving up global LNG prices and causing Egypt’s import bills to triple.

Egypt (News Central TV) — Egypt seeks multi-year LNG supply deals. Credit: Reuters

Securing long-term agreements between $8 billion and $11 billion annually allows Cairo to hedge against spot market volatility, though the massive outlay threatens to strain national reserves and widen the country’s severe fiscal deficit.

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Abisoye Adeyiga

Abisoye Adedoyin Adeyiga holds a PhD in Languages and Media Studies and a Master’s in Education (English Language). Trained in digital marketing and investigative journalism, she is passionate about new media’s transformative power. She enjoys reading, traveling, and meaningful conversations.