Egypt set to ramp up LNG imports through 2030, tightening global market

[Digitally Generated Image of LNG Tanker at Industrial Harbor Representing Energy Infrastructure]
alvarez

* Egypt is said to be poised to boost liquefied natural gas purchases until the end of the decade, tightening the global market and raising the prospect of yet-higher import bills.
* The nation is planning to buy LNG beyond the sizable volumes it’s already agreed to until 2028, as it looks to meet surging demand and fill a gap left by declining local output, _Bloomberg_ reported on Tuesday.
* It has signed 10-year deals for import infrastructure and is in talks with Qatar over long-term gas supply contracts.
* Elsewhere, shares of liquefied natural gas producers including Venture Global (VG [https://seekingalpha.com/symbol/VG]) and Cheniere Energy (LNG [https://seekingalpha.com/symbol/LNG]) rose on Monday after the European Union committed to purchase $750B worth of LNG over the next three years as part of the sweeping trade pact announced on Sunday.

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