Egypt to ramp up LNG imports

As summer nears Egypt is expected to ramp up liquefied natural gas (LNG) imports as its own natural gas production falls and power demand climbs, this according to sources. Egypt's government has bought at least two LNG cargoes this month for immediate delivery and is expected to purchase up to 20 over the spring and summer in readiness for increasing power demand, three industry and trading sources told Reuters. Media outlets reported that Egypt, which faces growing demand for gas from its population of 106 million, is expected to buy three cargoes per month between July and October. The government has been seeking a regional supply role, selling Egypt's own gas and re-exporting Israeli gas as LNG to the Middle East, Africa and Europe.