Egypt signs agreement with Shell and Total for 60 LNG shipments worth $2,7 billion

The Egyptian government has renewed its contract with multinational oil companies Shell and Total for the import of 60 new cargoes of liquefied natural gas (LNG) through 2026, worth a total of $2,7 billion. An Egyptian government official made the announcement anonymously to Asharq Business.

The agreement includes five shipments per month starting in January to meet the needs of the domestic market. Payments include a grace period of up to one year from the delivery date of each shipment, calculated based on the market price at the time of delivery plus an additional fee for each additional month. Shell told Asharq Business that export plans for 2026 are still under review and that the company is not currently in a position to comment on specific agreements.