Another LNG regasification vessel coming our way?

Good morning, ladies and gentlemen. We are almost halfway through what is shaping up to be a very calm Ramadan. In today’s issue we dive into the IMF’s take on our economy — what’s working and what needs to be worked on — as highlighted in a statement that came out in the early hours of the day following the Fund’s Executive Board approving our fourth review.

So, when do we eat? Maghrib prayers are at 6:01pm in the capital, and you’ll have until 4:41am tomorrow to hydrate and caffeinate ahead of fajr.

PSA-

WEATHER- It’s another sunny day in Cairo, with a high of 27°C and a low of 16°C, according to our favorite weather app.

It’s a touch cooler in Alexandria, with a high of 25°C and a low of 14°C.

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WATCH THIS SPACE-

#1- Another LNG regasification vessel coming our way? The government is exploring the possibility of leasing a German LNG regasification vessel, with a delegation of Egyptian experts expected to visit Germany by the end of this month to finalize the terms of the potential agreement, the Oil Ministry said in a statement.

Our sixth floating regasification unit? Egypt has been expected to ink an agreement this month to rent its fifth floating regasification unit from Cyprus, with the ship reportedly expected to dock in Egypt to cover high energy demand in the summer months. The government also reportedly chartered a third floating storage regasification unit to dock at Ain Sokhna by June 2025 and a fourth unit from Turkey to dock during the summer.

Gov’t is prepping for summer demand surge: The state-owned Egyptian Natural Gas Holding Company has reportedly sent new pricing and payment conditions to global LNG suppliers in a bid to secure direct contract offers for LNG supplies for the summer months, with the government reportedly aiming to import 155-160 shipments of LNG in 2025 to close the gap between supply and demand.

#2- The Houthis are once again targeting Israeli-linked vessels crossing the Red Sea, according to a post on X from the group’s spokesman. The resumption of the attacks comes as Israel blocks aid from entering Gaza in a move aimed at pressuring Hamas into accepting revised ceasefire terms.

#3- Egypt’s green data center plans are back in focus: Investment Minister Hassan El Khatib met with Income Egypt Chairman Hesham Sheta and a group of green energy investors to review plans for a renewable-powered data center complex — dubbed the Atlas Project — which will be supported by a dedicated solar plant, according to a statement. The project appears to build on a January MoU a consortium of Swicorp Infra Capital, Income Egypt, and Record Digital Asset Venture signed with the Communications Ministry to develop a 200 MW solar- and wind-powered data center to export digital services abroad.

ALSO– El Khatib’s meeting covered other projects, including the Rosetta Minerals Project, which aims to process kaolin sand to boost local production and exports.

THE BIG STORY ABROAD-

It’s another morning with Trump tariffs dominating the front pages: US President Donald Trump backed down from plans to hike US tariffs on Canadian steel and aluminum to 50%, just hours after he first announced the plans. The reversal followed Canada’s decision to halt a planned 25% surcharge on electricity exports to the US — one of Trump’s key justifications for the tariff escalation. (FT | Reuters | CNBC | AP)

ALSO FROM THE TRUMP ADMINISTRATION- The US decided to resume military aid to Ukraine after Kyiv agreed to accept a US-backed 30-day ceasefire — the proposal is yet to be presented to the Russian side. (Reuters | AP)

*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: Enterprise’s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education.

In today’s issue: We look at how the local logistics sector fared in Agility’s 2025 Emerging Markets Logistics Index and how Egypt measured up to the Gulf’s top performers.