Egypt could spend up to USD 120 mn a month on LNG shipments this summer to support domestic demand as rising temperatures strain supplies with the Madbouly government planning to import three LNG shipments a month between July and October, an anonymous Electricity Ministry official told Asharq Business. A separate story from Reuters reports that the country is expected to import up to 20 shipments during spring and summer, citing three unnamed industry and trading sources.

The details: “Each LNG shipment amounts to 3 tn British thermal units, which provides on average 100 mn cubic feet of natural gas per day to power stations for ten days,” the source said.

ICYMI: Planned power outages returned last week following Ramadan and the Eid Al Fitr break, with the lights going out for two hours a day in some areas of the country.

Two shipments already secured: The government has purchased at least two shipments ofLNG due to be delivered next month, an Oil Ministry source previously told Enterprise. The shipments will be regasified at a floating unit in Jordan’s Aqaba under an agreement between the two sides.

And we could have our own regasification unit again soon: The government is currently in talks to lease a floating regasification unit from Norway’s BW Energy for five years, unconfirmed media reports said last week.

Remember: The Oil Ministry is reportedly stopping all LNG exports to European markets starting from next month on the back of increased domestic demand coupled with a downturn in domestic production.

Tags: