Egypt Daily News – The Egyptian Natural Gas Holding Company (EGAS) has received several offers to import liquefied natural gas (LNG) shipments required for the country this year. Leading the companies that submitted bids are Saudi Aramco, the UAE’s ADNOC, Algeria’s Sonatrach, and QatarEnergy, according to a government official who spoke to Al-Sharq on condition of anonymity.
The official added that EGAS is currently reviewing the technical and financial offers submitted by the companies for exporting LNG shipments to Egypt.
Egypt has set several conditions for receiving proposals to import LNG during the summer months, including a cap of $14 per million British thermal units (MMBtu), according to previous statements by another government official to Al-Sharq.
One key condition is that a letter of credit must be opened covering 25% of the shipment’s value before it arrives at Ain Sokhna Port, with the remaining balance to be paid one year after the gas is injected into Egypt’s national gas grid.
Aramco and ADNOC declined to comment on the matter. Sonatrach, QatarEnergy, and Egypt’s Ministry of Petroleum did not respond to Al-Sharq’s requests for comment.
EGAS sent out the terms to international LNG exporters and opened the door for direct contracting proposals.
Egypt is negotiating to secure gas imports through 2030 due to a decline in domestic production.
The country has already signed agreements with Shell (Netherlands) and TotalEnergies (France) to purchase a total of 60 LNG shipments in 2025, valued at around $3 billion. These deals include a one-year payment grace period and involve importing approximately five shipments per month. Each shipment ranges from 160,000 to 165,000 cubic meters—enough to provide about 500 million cubic feet of gas per day for one week.
The official also noted that Egypt will bear additional costs of up to $2 per MMBtu compared to spot market prices, as interest charges for the one-year payment deferral. The terms explicitly exclude the import of Russian LNG due to European Union sanctions.
Egypt aims to import between 155 and 160 LNG shipments this year to bridge the gap between actual market demand and domestic gas production.
The country’s daily gas needs are about 6.2 billion cubic feet, while production has declined to approximately 4.1 billion cubic feet. Summer demand is expected to reach 7 billion cubic feet per day.
