Good afternoon, friends, and welcome to issue #1k of EnterprisePM. A slow news cycle has made celebrating all the easier, as has the anticipated drop in temperatures starting tomorrow.

THE BIG STORY TODAY

The first of three additional regasification units has made port in Egypt, with the US-based New Fortress Energy-owned Energos Power arriving at Alexandria Port’s Tahya Misr terminal earlier today, according to a statement from the Oil Ministry. The 750 cubic feet per day (mcf/d)-capacity regasification will help regasify LNG shipments as the high demand summer months start rolling in following an agreement with previous lease holders Germany.

The Energos Power will soon join the already docked 750 mn mcf/d Hoegh Galleon in Ain Sokhna, and be followed soon by the 750 mcf/d Energos Eskimo currently in Jordan’s Aqaba and a floating storage regasification unit from Turkish state-owned energy firm BOTAS.

REMEMBER- The government is preparing for a surge in demand over the summer months, which has led the country to target importing 155-160 shipments of LNG this year to close the gap between demand and supply. Adding pressure to keep the lights on — and for Egypt to potentially overprepare — are repeated pledges from the government that the dreaded days of blackouts won’t return.

THE BIG STORY ABROAD

The financial foreign press continues to focus on Trump’s announcement delaying the 50% EU tariff until 9 July to allow for negotiations. Trump received a call from European Commission President Ursula von der Leyen requesting an extension from the original 1 June deadline. The president had previously indicated that he will impose the high tariffs because “discussions with [the EU] are going nowhere.” (Reuters | Bloomberg | Financial Times | CNBC | AP | CNN)


MEANWHILE- EU stocks moved into positive territory as investors responded to the US president’s decision to delay tariffs on the bloc. European automotive stocks — those most vulnerable to US tariff threats given that vehicles and machinery represent the EU’s largest export to the US — recovered from a 3% loss in the previous session to trade 1.1% higher, according to CNBC. The pan-European Stoxx 600 gained 1.0%, with all sectors in positive territory. France’s CAC 40 added 1.1%, Germany’s DAX rose 1.6%, while UK markets remain closed for a public holiday.

☀️ TOMORROW’S WEATHER- The capital will mercifully be seeing a major cooldown tomorrow compared to today’s weather, with the mercury set to peak at a mild 31°C throughout the day before cooling even further to 19°C at night, according to our favorite weather app.

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