Egypt in Talks to Lease New LNG Terminal as Imports Pick Up

April 16, 2024/in /by Rudolf Huber

Egypt is a major gas producer in its own right. It just is in a very weird position to have an exporting season as they cannot use all the gas they produce and an importing season when they don’t have enough. Normally, one would try to convert an old field into an underground gas storage facility where gas can be stored during the outbound season and pulled out during the inbound season. That would make a huge lot of sense. Volatility costs money and this money could have paid for some underground storage a long time ago. Mr. Sisi, you are building your new capital city. Get some gas storage specialists to work on underground gas storage too. It pays for itself.

(Bloomberg) -- Egypt is planning to lease a natural gas import terminal as it steps up overseas purchases in a bid to avoid energy shortages this summer. Most Read from BloombergTexas Toll Road Takeover to…

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