Commodities
Egypt Seeks Rare LNG Cargoes for Winter, Squeezing Supply
- Buying 20 cargoes raises prospect it will become net importer
- Until this year, Egypt was largely energy independent
A liquefied natural gas tanker in the Java Sea.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Egypt is seeking winter cargoes of liquefied natural gas for the first time in years, highlighting a deepening energy shortage that will increase global competition for the fuel.
State-owned Egyptian General Petroleum Corp. issued one of its biggest tenders, asking for 17 shipments for its floating import terminal at Ain Sukhna and three more cargoes to be delivered into neighboring Aqaba, Jordan, according to people with knowledge of the matter. Egypt is seeking the deliveries from October to December, the people said.