The Egyptian Oil Ministry signed a USD 4 bn agreement with US-based Hartree Partners for long-term LNG supplies, US Deputy Secretary of State Christopher Landau said on X. The agreement is a sizable part of the USD 10 bn in LNG agreements soon to be inked, extending to 2027 with a range of supplies to cover demand, a government source told EnterpriseAM when asked about the story.

The agreement comes as contracts with Aramco, Trafigura, and Vitol are set to expire in mid-2026, and with renewals contingent on global market conditions, diversifying the supplier base was critical to securing more competitive pricing, the source said.

Deliveries are set to start early next year, starting at a slower pace before increasing in the second half to meet peak demand, the source added. He also noted that Egypt imported half of its gas needs this year from the US via spot shipments, making it the world’s second-largest buyer of American LNG.

Sources told us last week that up to 20 LNG shipments are expected before year-end, with new cargoes being secured through tenders with approved suppliers. Looking ahead, our LNG requirements for next year are estimated at 120-125 shipments, we were told.

MORE FROM EGYPT

The Turkish Trade Ministry has launched an anti-dumping investigation into imports of textile products from Egypt, alongside the UAE and South Korea, according to a statement from Turkey’s Official Gazette. The investigation specifically looks into applying anti-dumping measures on imports of “woven fabrics made of synthetic or artificial staple fibers” originating from China that would be subject to 44-87% anti-dumping tax if imported directly from the world’s factory, the gazette reads.

Turkey is suspicious about a recent surge in Egyptian imports of woven fabrics made from synthetic or artificial staple fibers in the Turkish market. The quantities of the materials coming from Egypt rose from 124 tons in 2022 to 4k tons in the first four months of 2025, according to Turkish trade data. As a result, Egypt’s share of total imports in the sector jumped from just 0.1% in early 2022 to 56.1% in early 2025.

The jump in imports from Egypt has also coincided with a significant drop in prices, with unit prices falling from USD 7.3 per kg in 2022 to USD 4.8 per kg in the same period of 2024. However, the trend seems to be reversing, with unit costs rising again to USD 6.4 per kg in 2025. But even with the recent increase in unit cost, it’s still lower than the general average and the direct price from China, which has led the Turkish Trade Ministry to suspect the presence of re-exported Chinese textiles that aren’t properly declared.

What’s next? Questionnaires were sent last month to relevant importers, exporters, and embassies in order for the ministry to obtain the necessary information for the investigation. The relevant parties have until Thursday to respond.

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