Good afternoon, friends, and congratulations on making it to the half-way mark of the workweek. It’s another calm day at home, whereas abroad, the hunger crisis in Gaza continues to dominate global headlines.

THE BIG STORY TODAY-

Egypt has secured LNG shipments through 2026 at a total estimated cost of USD 8 bn, a government source told EnterpriseAM. The final bill may fluctuate based on domestic production and consumption levels, thanks to a built-in flexibility mechanism negotiated with suppliers. Plans for a fifth regasification unit are also underway to accommodate the remaining 46 LNG incoming shipments, we were told.

ICYMI- Electricity consumption hit a new peak at 39.4 GW on Sunday, after a few days of extreme heat pushed energy demand to a series of record highs. Rising demand at home and a fall in domestic supply has pushed Egypt to increasingly rely on LNG imports to keep the lights on and prevent a return to the days of planned outages.

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THE BIG STORY ABROAD-

Gaza’s hunger crisis reaches catastrophic levels. The UN-backed Integrated Food Security Phase Classification issued a food insecurity and malnutrition alert earlier today, noting that the “worst-case scenario of famine” is playing out in Gaza, and warning that lack of immediate action will lead to widespread hunger-related deaths.

While the alert is not an outright formal declaration of famine, it follows an alarmingly increasing rate of malnutrition-caused Palestinian deaths — in the past 24 hours alone, 14 more Palestinians have perished from hunger, according to Gaza’s Health Ministry. For a formal famine declaration to be issued, the IPC requires data that cannot be obtained given the lack of access to the strip.

REMEMBER- Over 100 international aid organizations and human rights groups called for restrictions on aid to be lifted last week. On Sunday, Israel announced a ten-hour daily pause on military operations in Gaza until further notice, allowing aid to enter the strip following international pressure. UN members and Palestinians on the ground, however, said that not much has changed.

ICYMI- Egyptian President Abdel Fattah El Sisi called on US President Donald Trump in a televised speech yesterday afternoon to urge an end to the war in Gaza, noting that conditions in the strip have become “ tragic and intolerable.” Trump pledged to set up food centers, condemning Israel for limiting aid and commenting that there is “real starvation” in Gaza — opposing Israeli PM Benjamin Netanyahu, who claims otherwise.

MEANWHILE- Germany and Spain announced plans to airdrop food and other supplies into the strip. However, both acknowledged that it will not be enough. “We know that this can only be a very small help for the people in Gaza, but at least it is a contribution that we are happy to make,” German Chancellor Friedrich Merz said. (WHO | AP | CNN | BBC)

☀️ TOMORROW’S WEATHER- It seems the worst of the heat wave is behind us, with temperatures set to peak at a relatively cooler 37°C in the capital tomorrow, before dropping to 25°C. We’re also expecting cooler temperatures up north, with a high of 29°C and a low of 26°C, according to our favorite weather app.

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