Three commercial sources told Reuters that Egypt had signed two agreements with the Shall and Total Enem, an estimated $ 3 billion to buy 60 liquefied natural gas to meet the demand in 2025.
Egypt returned to the status of the pure import of natural gas, as it bought dozens of shipments and abandoned its plans to become a resource for Europe, amid a sharp decrease in the local product.
The joint data initiative (Judy) showed that local supplies in Egypt decreased to its lowest levels in seven years last September, mainly due to the decline in production from the back of the gas and high energy consumption.
“The two agreements are scheduled to cover most of the country’s needs in 2025,” the sources said. The three sources asked not to mention their names because they are not authorized to talk about the issue publicly.
Shell refused to comment. Total Enemz nor the Egyptian Ministry of Petroleum did not respond to a Reuters request for comment.
In November, Reuters reported that Egypt is holding talks with other American and foreign companies to buy quantities of liquefied natural gas through long -term agreements in a shift from relying on the most expensive immediate market.
To fulfill the demand in the hot summer months when the gas is more required to generate electricity to operate air conditioning devices, Egypt bought dozens of shipments of liquefied natural gas in the immediate market, as it was forced to pay a bonus ranging from one dollar and dollars.
What exacerbates the financial pressures on Egypt, which suffers from a shortage of foreign exchange, liquefied natural gas prices in the immediate market increased in 2025 to an average of more than $ 14 per million British thermal units from about 12 dollars when Cairo began to launch lashes for liquefied natural gas .
Last January, Egypt launched a tender for four liquefied natural gas shipments for delivery between February and March. One of the sources said that a tender for purchase from the immediate market may be launched later this year, depending on demand, market conditions and prices.
According to the consulting company Energy Aspipers, it is expected that local gas production will decrease by another 22.5% by the end of 2028. At the same time, analysts expect energy consumption in Egypt by 39% over the next decade.
