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Egypt aims to buy more liquefied natural gas shipments over the next four months as the nation aims to avoid a repeat of last year’s chronic blackouts.
Egyptian Natural Gas Holding Co. is currently aiming to import at least one shipment a month through July or August, according to people with knowledge of the matter, who requested anonymity to discuss private details. Egypt will need at least five cargoes for the summer, one of the people said.
Egypt’s oil ministry, which has responsibility for overseeing fuel imports, couldn’t be reached for comment outside usual office hours.
The North African country — typically a fuel exporter — uses natural gas to produce electricity for air conditioning, and has begun buying LNG ahead of forecast summer heat waves as it aims to avoid disruptions to power supply. Temperatures that rose above 35C (95F) last summer caused interruptions that continued for an hour or two each day.
