Arab Finance: Egypt is about to import a rare cargo of liquefied natural gas (LNG), Bloomberg reported on November 3rd.
This comes amid the tightening market for fuel due to the Israel-Hamas conflict in the region.
The tanker Maran Gas Kalymnos, which is partially loaded with LNG, is anticipated to arrive at the Red Sea port of Ain Sokhna on Friday, November 10th, marking Egypt’s first super-chilled fuel import since July, according to tanker-tracking data compiled by Bloomberg.
Egypt typically imports natural gas through a pipeline from Israel; however, due to Israel's conflict with Hamas, supplies temporarily stopped. The exceptionally hot weather has also increased domestic demand in Egypt.
After being disrupted over the weekend, Israeli natural gas exports to Egypt have resumed, albeit in small amounts, Reuters reported.
On October 29th, the Egyptian government announced that Israeli gas exports to Egypt plunged to zero from 800 million cubic feet per day due to the ongoing war.
On October 29th, the Spokesman of the Cabinet Sameh El-Kheshen announced that Egypt is planning to extend the duration of power outages across the country until weather forecasts get back to normal.
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