Egypt Prepares to Compensate for Gas After Halting Israeli Supplies with 20 LNG Shipments
In a proactive step to ensure the stability of the local gas market, the Egyptian Ministry of Petroleum and Mineral Resources announced its plans to import 20 shipments of liquefied natural gas (LNG), with the first shipments starting this March, following the halt of Israeli gas supplies to Egypt.
A government official explained that the ministry aims to secure more than 2 billion cubic feet of natural gas per day through these shipments, to support the local market and meet the needs of various state sectors.
This comes after Israeli gas flows had reached about 1.05 billion cubic feet per day before the halt, while Egypt imported five shipments of LNG during February.
The official noted that discussions with global gas suppliers are ongoing regarding the timing of receiving shipments at Egyptian ports, where shipments will be received consecutively and directed immediately to regasification ships to inject into the national natural gas grid.
Each shipment is expected to range between 150 and 155 thousand cubic meters.
He also clarified that the Egyptian government will set aside four shipments as an emergency reserve that can be utilized when needed to enhance supplies during the month.
Egypt's gas needs are about 6.2 billion cubic feet per day, while local production is around 4.2 billion cubic feet per day, making LNG imports a strategic solution to compensate for the shortfall.
The announcement comes amid Israel temporarily closing parts of natural gas reservoirs, following joint strikes with the United States on Iran, which also led to the shutdown of the Leviathan field off the Israeli coast and the closure of a production vessel belonging to Energean that serves several Israeli fields.
During his inspection of the control center for the national natural gas grid "Nata", Egyptian Petroleum Minister Karim Badawy confirmed the infrastructure's readiness to handle any emergency, noting that the ministry has developed a comprehensive system to receive gas and provide multiple alternatives to ensure the sustainability of supplies and efficiently meet local market needs.
