Egypt Daily News – Egypt’s natural gas imports increased by 24.3% during the first 5 months of 2024 compared to the same period of the previous year.
According to the Foreign Trade Bulletin issued by CAMPAS, Egypt’s gas revenues recorded about $1.346 billion during the first 5 months of 2024, compared to $1.083 billion during the same period in 2023.
The increase in imports of natural gas is due to recurring electricity outages as a result of a shortage of fuel supplied to production stations and high temperatures from May 2023 until the end of July 2024, which prompted the government to import quantities of natural gas and diesel fuel to solve this crisis.
Egypt received 5 shipments of liquefied natural gas – about 155 thousand cubic meters – among the 21 shipments that were contracted to provide the fuel needs of power stations and stopped reducing loads at the end of last July, until mid-September, according to what Dr. Mostafa Madbouly, Prime Minister, said.
The bulletin explained that, in conjunction with the increase in Egypt’s imports of natural gas, the value of natural and liquefied gas exports declined by 87.8% to reach $276 million, compared to $2.271 billion during the same period in 2023.
