Egypt in talks with European energy majors for multi-year LNG supply deal - Reuters
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Egypt's government is in talks with energy majors including Shell ( SHEL ), BP ( BP ) and TotalEnergies ( TTE ) to buy 15- 18 cargoes/month of liquefied natural gas for at least three years, Reuters reported Tuesday. The talks come as Egypt's domestic production struggles
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The Egyptian government is negotiating long-term liquefied natural gas supply contracts for 15-18 cargoes per month over the next three years with global energy companies such as Shell, BP, and TotalEnergies. This move aims to secure stable energy supplies amid mounting supply and demand instability caused by declining domestic natural gas production. It is expected to boost expectations for increased LNG demand across the global energy market and positively impact the profitability of related companies.
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- Natural Gas — Egypt's pursuit of long-term LNG imports of 15-18 cargoes per month keeps global gas demand solid, acting as a tailwind for related corporate earnings.
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