Egypt books 60 LNG cargoes from Shell, TotalEnergies: report

Egypt

CAIRO, February 7, 2025 – The government of Egypt has signed deals with Shell and TotalEnergies for the delivery of 60 LNG cargoes at a cost of around USD 3 billion, Reuters reported on Friday.

The cargoes will address the country’s supply gap for 2025, the report said, citing multiple trading sources.

Decreased production from Egypt’s star gas asset, the Zohr offshore field, was cited as a factor contributing to the country’s supply gap.

The report also pointed to higher power consumption as a factor driving down the gas supply.

In January, Egypt’s Ministry of Petroleum and Mineral Resources announced that Eni would work to boost production at the Zohr field.

Located approximately 200 kilometres north of Port Said, the Zohr gasfield was discovered by Eni in 2015 and began producing in 2017. It is the largest gasfield in the Mediterranean, with potential resources in place of more than 850 bcm (30 tcf).

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