Energy Crisis: Egypt to Spend $3 Billion on LNG Imports.

Egypt is Seeking Gas to Ensure Energy Supply

Egypt is actively negotiating with energy companies and trading houses to acquire a large quantity of liquefied natural gas ahead of the peak energy consumption season in the summer.

Currently, gas prices will lead the country to expenses of up to $3 billion, which will create additional pressure on the state budget, already experiencing a shortage of financial resources due to issues in gas production and rising living costs.

President Abdel Fattah al-Sisi instructed the government to 'take all necessary measures proactively to ensure a stable electricity supply'

From other sources, it became known that the government is negotiating the import of not only gas but also fuel oil. However, gas remains a priority due to more favorable payment terms compared to fuel oil.

In recent years, Egypt has repeatedly faced energy supply issues due to gas shortages. The prolonged crisis has forced the country to become a net importer, further intensifying reliance on imported gas and limiting financial opportunities for developing domestic production.

The reduction in gas supplies due to scheduled repairs at one of the fields has led to forced shutdowns of some plants, threatening the already difficult situation in the country's energy market.