Anna Shiryaevskaya and Stephen Stapczynski of Bloomberg report that Egypt has already suffered rolling blackouts from the extreme summer heat and is emerging as a major LNG importer. They write:
Egypt plans to make its biggest purchase of liquefied natural gas in years as it steps up efforts to ease energy shortages amid extreme summer heat.
State-run Egyptian Natural Gas Holding Co. is asking the market for at least 17 shipments of the super-chilled fuel for delivery over the next three months, according to traders with knowledge of the tender.
The purchase may further tighten the global LNG market, as supply outages and hot weather across the Northern Hemisphere boost demand for the fuel used for cooling in summer. […]
For Egypt, another summer of massive rolling outages would pile pressure on the state budget and a population already grappling with high inflation, a devalued currency and rising domestic fuel prices.
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