Egypt signs LNG supply deal with QatarEnergy for 24 cargoes

Summary

QatarEnergy and the Egyptian government have signed a preliminary deal for at least 24 LNG cargoes this year, worth $35 billion. This agreement aims to diversify Egypt's energy sources amid declining domestic gas production, which peaked in 2021 at 6.6 billion cubic feet daily. Egypt's gas imports from Israel have also increased, accounting for a fifth of total imports.

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