What is the scale and duration of Egypt's proposed LNG import deal with energy majors like Shell, TotalEnergies, and BP?

Egypt is in talks with Shell, TotalEnergies, BP, and Hartree Partners to buy 15 to 18 LNG cargoes per month for at least three years, with potential durations extending up to five years; the deals are not yet finalized, and the petroleum ministry and companies declined or did not respond to requests for comment.

Why is Egypt seeking long-term LNG imports, and what financial pressure does this create?

Egypt is pursuing multi-year LNG imports because domestic production is declining—averaging under 4.4 billion cubic feet per day in FY 2025–26 and expected to fall further—while demand rises and global LNG markets tighten due to the Iran conflict disrupting Strait of Hormuz shipping; as a result, Egypt’s natural gas import bill nearly tripled from $560 million to $1.65 billion for the same volumes in March, and the new deals could cost $8–11 billion annually, straining a budget already burdened by high debt and currency instability.

Egypt in Talks with Energy Majors for Multi-Year LNG Supply Deal

Jul 21, 2026

Egypt is negotiating multi-year LNG contracts with Shell, TotalEnergies, and BP to address rising demand and declining domestic production. These deals could cost $8-11 billion annually amid tight global markets and geopolitical tensions.

reuters

2026-07-21

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