Business · Energy & Commodities · 13 hrs ago
Egypt buys six fuel oil shipments as LNG prices rise
Egypt’s General Petroleum Corporation bought six shipments of high-sulfur fuel oil through a recent tender.
Each shipment is between 90,000 and 100,000 tonnes, with delivery scheduled for November and December.
Egypt uses domestic gas and imported liquefied natural gas (LNG) to generate electricity, and has increased its fuel oil imports as LNG prices have risen.
The pressure on LNG markets has grown amid disruptions linked to the Iran war.
Egypt imported more than 640,000 tonnes of fuel oil in October, while imports from January to October were lower than in the same period of 2025.
The government had budgeted about $10.1 billion for LNG in the 2026–27 financial year, but had spent $5.8 billion by October 6, putting it on course to exceed that budget.
Egypt expects LNG imports to reach 184 shipments this year and is discussing multi-year supply deals with major energy companies as domestic gas production struggles to keep pace with demand.
Egypt’s General Petroleum Corporation bought six high-sulphur fuel oil shipments as global liquefied natural gas prices rose.
The shipments are scheduled for delivery in November and December.
Each shipment is estimated at 90,000 to 100,000 tonnes.
The purchases come as Egypt has increased fuel oil imports amid pressure on global LNG markets linked to the Iran war.
Egypt’s LNG costs have exceeded budget estimates, according to an analyst cited by Reuters.
- Who
- Egypt’s General Petroleum Corporation.
- What
- It bought six shipments of high-sulphur fuel oil.
- When
- The purchase was made through a recent tender; delivery is scheduled for November and December.
- Where
- Egypt.
- Why
- Pressure on global LNG markets linked to the Iran war has pushed prices higher.
This story does not have two clearly opposing sides.
Egypt’s fuel oil imports began a clear upward trend, according to Kpler.
Egypt’s LNG imports reached their highest level of the year up to that point.
Egypt’s LNG imports began to decline.
The petroleum ministry had spent $5.8 billion on LNG, according to an analyst cited by Reuters.
Egypt’s fuel oil imports exceeded 640,000 tonnes, according to Kpler.
The six fuel oil shipments bought through the tender are scheduled for delivery.
- Shipments
- 6
- Shipment size
- 90,000–100,000 tonnes each
- October fuel oil imports
- More than 640,000 tonnes
- Fuel oil imports, January–October
- 3.94 million tonnes, down from 5.95 million tonnes in the same period of 2025
- LNG budget
- About $10.1 billion for fiscal year 2026–27
- Planned LNG imports
- 184 shipments this year, up from 152