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Market Chatter: Egypt Seeks Long-Term LNG Import Deals

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Egypt is in talks with Shell (SHEL), TotalEnergies (TTE), BP (BP) and commodities trader Hartree to secure 15-18 liquefied natural gas cargoes per month under contracts lasting at least three years, Reuters reported on Tuesday, citing industry sources.

The discussions reportedly come as Egypt seeks to offset declining domestic gas production and reduce reliance on volatile spot markets amid heightened geopolitical tensions.

Reuters estimated the contracts could cost $8 billion-$11 billion annually. Egypt imported about 985 billion cubic feet of gas in the year ended June 2026 and expects imports to rise further this fiscal year as domestic production falls to an estimated 4.2 billion cubic feet per day.

Egypt's petroleum ministry, Shell, TotalEnergies, BP and Hartree Partners did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumors and speculation. Accuracy is not guaranteed.)

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