SEATTLE (Oil Monster): In an effort to address growing natural gas shortages, Egypt plans to increase its imports of natural gas. It should be mentioned that throughout the last ten years, the nation's domestic demand for natural gas has increased.
Egypt is reportedly planning to contract three more floating storage regasification units (FSRUs). By the end of the third quarter of 2025, they are expected to start operations in Damietta on the Mediterranean Sea and Ain Sukhna on the Gulf of Suez. Furthermore, by Q4 of next year, a fourth FSRU is expected to take the place of the Hoegh Gallleon, which is now operating in the Port of Sumed next to Ain Sukhna.
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The discovery and rapid development of the Zohr field, which was expected to make Egypt a regional natural gas exporter, was a significant turning point in the history of the nation's offshore natural gas discoveries. Although the field was created in 2017, output was impacted by operational and technical problems at the Zohr field. The county became a net importer of natural gas in 2024 as a result of production not being able to keep up with rising demand.
An agreement to import more natural gas from Israel was made in August by a domestic company and its partners in the Leviathan field offshore Israel. Under the agreement, Israel's Leviathan field would supply Egypt with 130 billion cubic meters of natural gas until 2040.
