Egypt seeks long-term LNG deals with U.S. firms as its gas production declines and demand rises.

Egypt is negotiating long-term liquefied natural gas (LNG) deals with U.S. and other foreign companies to secure a stable supply as its own gas production declines. The country aims to reduce dependence on costly spot market purchases and stabilize energy costs. Egypt has become a net importer of natural gas this year, with domestic production expected to fall by 22.5% by 2028, while power consumption is projected to rise by 39% over the next decade.

November 20, 2024
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