- In line with efforts to meet summer demand, Egypt plans to import three LNG shipments per month from July to October 2024.
- The cut on LNG exports aims to increase gas availability in Ghana to meet rising electricity demands amidst recurring power outages.
Egypt has announced temporary cuts to its liquefied natural gas (LNG) exports starting in May. This move aims to address power shortages anticipated during the summer months.
Furthermore, it targets increasing gas availability within the country to meet rising electricity demands amidst recurring power outages.
The Ministry of Electricity estimates a daily requirement of approximately 105 million m3 of natural gas and 10,000 tons of diesel, with demand expected to surge to 135 million m3 of gas as temperatures rise during the summer of 2024.
In addition, Ghana has reinstated daily power cuts of up to two hours per day across several governorates, saving an estimated $1 billion annually.
Ongoing power cuts are measures taken due to decreased foreign currency revenue from Suez Canal fees and tourism. This also includes reduced production from the Zohra natural gas field aimed at safeguarding essential currency reserves for fuel and imports.
In order to meet summer demand, Egypt plans to import three LNG shipments per month from July to October 2024. This will provide power stations in the country with approximately ten days’ supply.