LNG Traders Eye One Last Egypt Bonanza as Demand Nears Peak
- State-run EGAS seeks to import 120 LNG cargoes next year
- Egypt may stop LNG imports as early as 2020, resume exports
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The world’s biggest liquefied natural gas traders will be lining up for what may be the last billion-dollar payday from Egypt.
Egypt is seeking about 120 LNG cargoes for next year, worth about $2.4 billion at current spot prices in Singapore. That may be “the last big tender” if recent discoveries in the North African nation start production in 2018, according to Maggie Kuang, an analyst in Singapore at Bloomberg New Energy Finance.