Two regasification units will dock in Egypt’s ports next month as we gear up for more LNG shipments, a government source told EnterpriseAM, confirming news first picked up by Asharq Business. The two units — contracted from Jordan and Germany — will arrive in Egypt on 5 and 15 June and will help process the 5-6 LNG shipments we have coming our way next month, our source said.

IN CONTEXT- The Oil Ministry received the go-ahead to sign contracts for up to 60 LNG shipments through early September to meet the expected high electricity demand in the summer. The shipments will help make up for a dip in Israeli gas flows that is expected to continue till August.

In numbers: The Madbouly government wants to triple its LNG imports to 1.8 bn cubic feet per day (bcf/d) from around 600 mcf/d, Asharq’s source said.

We have more regasification units on the way: Egyptian Natural Gas Holding Company inked a 10-year agreement with global maritime energy infrastructure player Höegh Evi for an LNG regasification vessel earlier this month — Egypt will reportedly have four regasification vessels leased by the end of 2026, with a combined capacity of 3 bn cubic feet per day, to help meet rising energy demand.

We have clarity on the volumes Egypt is working with: The government is planning to allocate some 146 mn cubic meters of fuel equivalent every day to power stations in June — 3.9 bcf/d of natural gas and 31k tons of mazut. The figure will be raised to 160 mn cbm in July before peaking at 162 mn cbm in August.

Egypt’s natural gas output currently stands at around 4.2 bcf/d, well below average summer demand of 6.2 bcf/d — the figure climbs to 7 bn cf/d during peak consumption months. Power plants currently consume 3.4 bcf/d, while industrial usage stands at around 2.1 bcf/d, according to Asharq’s source.

ALSO IN ENERGY NEWS-

ExxonMobil is fast-tracking drilling at its Cairo and Masry concessions in the eastern Mediterranean after wrapping seismic surveys, according to a cabinetstatement out following a meeting between Prime Minister Moustafa Madbouly and ExxonMobil VP for Exploration Jon Ardill. Ardill said the company is accelerating prep work at the two blocks, with the aim of achieving new discoveries in deepwater zones.

The state wants this moving quickly: Madbouly directed government agencies to streamline licensing and logistics to support the US energy giant’s timeline. He also requested a clear work program outlining when production is expected to begin.

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