QatarEnergy to meet Egypt’s summer LNG demand
QatarEnergy has signed a memorandum of understanding (MoU) with Egypt’s petroleum ministry to supply liquefied natural gas (LNG) during the summer to meet domestic demand.
The state-backed company will supply up to 24 LNG cargoes for the summer of 2026, it said in a statement.
“The MoU strengthens our bilateral relationship as we work jointly towards additional supplies of long-term LNG to meet Egypt’s growing demand for energy to fuel its robust economic and industrial growth,” QatarEnergy CEO Saad Sherida Al-Kaabi said.
The two entities also agreed to initiate discussions on additional, long-term LNG supplies to Egypt.
Egypt’s current natural gas production is estimated at 4.2 billion cubic feet per day, while domestic demand is 6.2 billion cubic feet per day, forcing the country to import LNG to bridge the supply-demand gap.
Cairo launched a seismic survey last month to explore for oil and gas in sites that form nearly 10 percent of the country’s area.
The country plans to drill 101 oil and gas wells in 2026 as part of a $5.7 billion investment plan approved by the government in 2025 to “spud” (start drilling) 480 wells over the next five years.
Further reading:
- US energy company Apache to increase gas output in Egypt
- Egypt LNG imports to surge as local demand soars
- Egypt signs LNG supply deals with global companies
You May Also Like
Wormhole Jumps 11% on Revised Tokenomics and Reserve Initiative
Why Choose Sunriseaccountants.net for Professional Payroll Management
