Egypt Secures LNG Cargoes Amid Peak Summer Demand

Heat-stricken Egypt is buying liquefied natural gas (LNG) to cope with peak summer electricity demand. Egyptian General Petroleum Corp., the country's state-run energy company, has secured LNG cargoes for August delivery from a tender and existing suppliers.

The people familiar with the matter spoke on condition of anonymity as they are not authorized to speak publicly about spot deals.

The soaring temperatures in Egypt have led to increased electricity demand, prompting the country's energy companies to buy prompt deliveries of LNG.