The Madbouly government is looking to secure competitive prices for next year’s LNG cargoes now that our economic situation is more stable, a government source told EnterpriseAM, adding that the stable outlook for global natural gas prices is also helping. The government is looking to pay the Dutch TTF hub gas price — one of the main benchmarks for European gas prices — plus USD 0.75-1 per mn British thermal unit, down from the current average price of TTF plus USD 1-2, our source added.

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Early negotiations = better price: The government kicked off negotiations early this year, the source said, adding that demand is currently below peak levels — increasing supplier competition and strengthening Egypt’s position while negotiating.

Supplies secured through next summer: The government has secured strategic medium-term contracts for LNG through June 2026 and is continuing to request additional shipments through monthly tenders to keep prices competitive, a government source previously told us.

We have quite the roster of suppliers: Over the past two years, the Oil Ministry expanded its supplier base to more than 70, which helped stabilize prices while keeping premiums at roughly USD 1-2 above global benchmarks, according to our source. Egypt has agreed to purchase up to 125 LNG cargoes annually from a roster of global suppliers, including Saudi Aramco, Trafigura Group, Vitol Group, Hartree Partners, BGN, Shell, and Azerbaijan’s Socar, at a lower premium of around USD 0.75 above the global benchmark.

Gas imports are expected to fall almost 30% next year, driven by anticipated increases in domestic production and higher renewable energy output, the source added. Egypt is currently mapping out next year’s import schedule to lock in pricing ahead of heightened summer demand and ensure supply security.

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