LNG Imports Soar to Two-Year High in Egypt Amid Heat Wave Demand

Egypt's Ministry of Petroleum has reported that the country's liquefied natural gas (LNG) imports in August reached their highest level in two years, at approximately 4 million cubic meters. This increase is attributed to a surge in domestic demand during the heat wave in August, which peaked at 40,200 megawatts.

The government has been relying on LNG imports to fill the gap between production and consumption. Domestic natural gas production ranges from 3.7 billion to 3.8 billion cubic feet per day, while consumption exceeds 7 billion cubic feet per day during peak periods.

To meet the elevated demand, Egypt's regasification capacity was increased by about 12% in August to roughly 2.8 billion cubic feet per day. The government plans to regasify 17 of the 25 cargoes due to arrive this month using three regasification vessels currently operating in Egyptian territorial waters.