Egypt begins purchasing LNG to avoid summer natural gas shortfall

Reuters

The new LNG shipment is scheduled to be routed via an already established facility in Jordan, the traders highlighted

Staff Writer, Arab Finance

April 4, 2024

PHOTO

The Egyptian Natural Gas Holding Company (EGAS) has recently bought at least one shipment of liquefied natural gas (LNG) for delivery in May, and is seeking several more, Bloomberg reported, citing traders familiar with the matter.

In an unusual move, Egypt has initiated the purchase of LNG in an effort to avert potential shortages this summer.

The new LNG shipment is scheduled to be routed via an already established facility in Jordan, the traders highlighted.

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