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Egypt considers importing liquefied natural gas to avoid shortage during summer: Bloomberg

Egypt is considering purchasing liquefied natural gas from markets, with the aim of avoiding a fuel shortage this summer – however the crisis in the Red Sea poses a challenge to these expectations, Bloomberg reported on Friday.

Cairo has inquired about LNG for delivery starting next month and through the summer, according to people familiar with the matter who declined to be identified since the plans have not been officially announced.

They said the gas would be routed through an existing facility in Jordan, although Egypt is seeking to establish its own floating terminal.

This would mark a major shift for Egypt, which largely stopped importing LNG in 2018 when the massive Zohr field boosted domestic production, turning the country into an exporter of the fuel.

Now the risks posed by climate change have turned that scenario on its head, as geopolitical tensions make it more difficult to import supplies.

The Egyptian Natural Gas Holding Company did not respond to Bloomberg for comment.

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