Egypt Daily News – Egypt has contracted with the British company BP to import two liquefied natural gas (LNG) shipments during March, with each shipment ranging between 160,000 and 165,000 cubic meters, providing around 500 million cubic feet of gas per day to the local market for a week, according to a government official who spoke on condition of anonymity.
The official added that the shipments will be paid for within a month of delivery and are not subject to the new contractual terms set by Cairo, which include payment one year after delivery with additional charges on the shipment value.
Egypt has set several conditions for receiving contract requests to supply the necessary LNG shipments during the summer months, including capping the price at $14 per million British thermal units, according to a previous statement by a government official.
The Egyptian Ministry of Petroleum did not respond to Asharq’s requests for comment.
The official noted that the Egyptian Natural Gas Holding Company (EGAS) also requires that the value of each LNG shipment be paid one year after its delivery to the national gas grid.
Egypt has also contracted with Dutch company Shell and French company Total to purchase a total of 60 LNG shipments in 2025 for approximately $3 billion, with a one-year payment deferment from the delivery date of each shipment. The agreement includes the supply of about five shipments per month.
The country’s gas production has dropped to 4.35 billion cubic feet per day, while daily demand stands at approximately 6.2 billion cubic feet, rising significantly during the summer.
