Europe's new gas competitor has gone overboard with orders

Due to the drop in gas production and huge electricity consumption, Egypt has again become a gas importer and reserved large volumes of LNG imports for itself. However, demand turned out to be lower in a country that suddenly became a competitor to Europe.

"Egypt is asking liquefied natural gas suppliers to postpone deliveries scheduled for the rest of the year due to weaker-than-expected demand," Bloomberg reports.

According to him, the state-owned company Egyptian Natural Gas Holding requested to postpone at least 20 deliveries (up to 2 billion cubic meters of gas), which were planned to be carried out until December.

"Deliveries will be postponed to the first quarter of 2026," the agency reports.

Bloomberg suggested that reducing imports to Egypt would help free up volumes for Europe, which is forced to buy more LNG after stopping the Ukrainian transit of Russian gas.

As EADaily reported, a drop in gas production in the country and an increase in electricity consumption turned Egypt into an LNG importer. This year it has ordered 150-160 shipments of liquefied gas from international traders and pays more for them than European companies.