{"id":624048,"date":"2024-06-23T00:00:00","date_gmt":"2024-06-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/23\/egas-eyes-securing-at-least-17-lng-shipments-over-the-next-three-months\/"},"modified":"2024-06-23T00:00:00","modified_gmt":"2024-06-23T00:00:00","slug":"egas-eyes-securing-at-least-17-lng-shipments-over-the-next-three-months","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/23\/egas-eyes-securing-at-least-17-lng-shipments-over-the-next-three-months\/","title":{"rendered":"EGAS eyes securing at least 17 LNG shipments over the next three months"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>State gas firm EGAS is seeking at least 17 LNG shipments in a tender,<\/strong> to be delivered over the next three months \u2014 its largest in years \u2014 <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-14\/egypt-taps-market-for-lng-to-ease-impact-of-extreme-summer-heat\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing traders it says have knowledge of the matter. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> In the tender, which closes on 26 June, EGAS is looking to acquire seven shipments of LNG cargoes in July, six more in August, and four more in September, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/egypt-seeks-deferred-payment-summer-lng-tender-sources-say-2024-06-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing unnamed trade sources.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>But potential bidders look hesitant: <\/strong>Egypt is also seeking deferred payments of up to six months for the shipments, which could \u201cnarrow the list of bidders and increase premiums\u201d amid high demand for the fuel in Asia, the trade sources said. Although Egypt has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ebdece9-73e5-4449-a45b-28f9ed2bba6b\/two-exchange-rates-is-a-disease-that-throws-things-out-of-balance,-says-cbe%25e2%2580%2599s%253cmark%253e-abdalla%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">made a point<\/a> of paying back its arrears to foreign oil companies after it floated the EGP in March, some traders told the newswire that they are concerned given the nation\u2019s \u201ccredit risk and difficult economic situation.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And we may have to pay a premium: <\/strong>We could be looking at a USD 1-2 premium per mmBtu on the Dutch TTF hub gas price \u2014 one of the main benchmarks for European gas prices \u2014 to secure all shipments, Reuters cited its sources as telling it. On top of this, \u201cany longer-term payment terms would warrant an additional premium,\u201d one source told the newswire.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s heavy competition for imports from the Atlantic: <\/strong>Demand from Asia, particularly from Japan, is especially high for Atlantic LNG volumes \u2014 which are expected to be the main source of Egypt\u2019s supply of the fuel while the Bab Al Mandab strait remains inactive.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember: <\/strong>A fall in domestic production has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/317bf16c-ec16-489f-ac56-05ad40a04693\" style=\"\" rel=\"noopener\">pushed<\/a> the country from being a net exporter to a net importer of LNG in recent months. The government has been ramping up imports in efforts to address a supply gap that has translated into extended power cuts and most recently had the government slashing gas supplies to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8ed9f513-cab1-455f-bd15-1ef7ab0cb702\" style=\"\" rel=\"noopener\">fertilizer companies<\/a> to cut supplies to feed power plants instead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EGAS is looking to receive the shipments via floating terminals in Jordan and Ain Sokhna<\/p>\n","protected":false},"author":1,"featured_media":624049,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[244,93,72,99,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-electricity","tag-energy","tag-enterpriseam","tag-fertilizers","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"4c754228-1fc1-4efe-b3d2-047f603faae8","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1323.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EGAS eyes securing at least 17 LNG shipments over the next three months","related_issue":[624043],"teaser":"EGAS is looking to receive the shipments via floating terminals in Jordan and Ain Sokhna","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.a7fb521f-e060-4ee5-acc8-882cdc7b74ee.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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One source said that two of the shipments will be offered on an FOB basis and available for loading 8-10, 17-19 and 21-22 August.","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":639403,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/29\/egas-lifts-upper-price-limit-on-natural-gas-purchases\/","url_meta":{"origin":624048,"position":1},"title":"EGAS lifts upper price limit on natural gas purchases","author":"enterpriseam admin","date":"29 October 2017","format":false,"excerpt":"EGAS lifted the upper price limit on what it could pay for the equivalent of a barrel of Brent crude in tenders to USD 65 from USD 60, Reuters reports. The move came after EGAS extended the bidding deadline for the 12 LNG shipments it\u2019s looking to acquire. Traders speculate,\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634968,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/30\/egas-to-buy-five-lng-shipments-for-2q2018-through-direct-order\/","url_meta":{"origin":624048,"position":2},"title":"EGAS to buy five LNG shipments for 2Q2018 through direct order","author":"enterpriseam admin","date":"30 January 2018","format":false,"excerpt":"EGAS to buy five LNG shipments for 2Q2018 through direct order: EGAS is planning to import five LNG shipments for 2Q2018, traders tell Reuters Arabic. These shipments will not come through a tender as is the norm, but a direct order, the traders added. It is not yet clear whether\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596453,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/28\/egas-issues-tender-for-lng-cargoes\/","url_meta":{"origin":624048,"position":3},"title":"Egas issues tender for LNG cargoes","author":"enterpriseam admin","date":"28 August 2019","format":false,"excerpt":"The Egyptian Natural Gas Holding Co (Egas) has issued a tender for three LNG cargoes for loading from the Idku gas liquefaction plant near Alexandria, two industry officials said, according to Reuters. The officials did not disclose the size of the cargoes. The tender closes on 28 August.","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594559,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/01\/egas-cancels-lng-tender-for-three-cargoes-due-to-low-bids\/","url_meta":{"origin":624048,"position":4},"title":"EGAS cancels LNG tender for three cargoes due to low bids","author":"enterpriseam admin","date":"1 September 2019","format":false,"excerpt":"EGAS has canceled an LNG tender for three cargoes from the Idku gas liquefaction plant near Alexandria, market sources told Reuters. The tender, which closed on 28 August, was canceled due to low bids, the sources said.","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637066,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/07\/gas-natural-fenosa-trafigura-vitol-glencore-awarded-rights-to-import-12-shipments-of-lng\/","url_meta":{"origin":624048,"position":5},"title":"Gas Natural Fenosa, Trafigura, Vitol, Glencore awarded rights to import 12 shipments of LNG","author":"enterpriseam admin","date":"7 November 2017","format":false,"excerpt":"Egypt is expected to award Spain\u2019s Gas Natural Fenosa and three Swiss-based trading houses the rights to import the 12 shipments of LNG is plans to buy in 1Q2018, traders tell Reuters. \u201cThe final allocation may change but traders currently expect EGAS to award the Spanish gas company five shipments,\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=624048"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/624048\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/624043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/624049"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=624048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=624048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=624048"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=624048"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=624048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}