Egypt Secures $17bn in Foreign Investment for Petroleum Sector Expansion
Egypt has secured more than $17 billion in fore...
Wednesday, 08 July 2026
Egypt’s gas production is currently at 5.7 billion cubic feet (cf) per day, the state news agency Mena quoted the spokesperson of the petroleum ministry as saying on Monday.
The spokesperson also said that it was agreed that 21 liquefied natural gas cargos are to arrive in Egypt during the summer, in addition to shipments of mazut fuel.
The first gas shipment arrived on Monday, and it is currently being discharged for supply into the national gas grid, the ministry spokesperson said. “With the third week of July the national gas grid’s supply will be sufficient,” he added. In June, Egypt fully awarded 20 cargoes of LNG in its biggest purchase of the seaborne fuel, aimed to cover heavy summer demand from July through September.
Supplies of the natural gas that helps Egypt generate electricity have been dwindling at a time when an expanding population and urban development have been pushing up electricity demand. When temperatures rise, air conditioning use drives up power consumption.
Egypt needs to import around $1.18 billion worth of natural gas and mazut fuel oil to end persistent power cuts exacerbated by consecutive heatwaves, Prime Minister Mostafa Madbouly said last month.
