Egypt, which surprised the market with massive liquefied natural gas tenders this year, has abruptly turned away several imported cargoes this month. Lower demand from Egypt now also frees up more cargoes for Europe, where cold weather has bolstered demand and prices. There are no technical issues with the floating LNG terminal that Egypt has leased this year to address acute power shortages, the person said. The Jordanian terminal is used for additional imports into Egypt and is connected to that nation by pipeline. Egypt’s LNG imports soared this year as a hot summer raised demand and domestic production of gas declined.

Source: The North Africa Journal November 20, 2024 23:03 UTC