Egypt’s appetite to buy LNG impacts global market

Egypt is ramping up its demand for LNG imports, with a consequential impact on the global LNG market.

Egypt has swung back to being an LNG importer over the last year.

It is already seeking a high number of cargoes this year, as well as planning further imports between now and 2028.

Following a deal with majors TotalEnergies and Shell earlier this year, its demand may be here to stay.

“They initially [tendered for] over 100 cargoes, then it turned out to be 40-60 cargoes,” one source said, while two other sources said around 40 cargoes were awarded.

Concerns about the potential market price impact prompted Egypt to lower the number of cargoes it sought in its most recent tender, the source added.