Egypt seeks long-term LNG deals to meet rising power demand

Egypt is negotiating multi-year liquefied natural gas contracts through 2030 to address summer electricity needs and declining domestic production, according to sources familiar with the matter who spoke with Bloomberg. The deals would reduce reliance on spot markets and include flexibility clauses for future adjustments, two sources said. Once an LNG exporter, Egypt has become a net importer as population growth and aging fields strain supplies. The government is expanding import infrastructure and discussing potential deals with Qatar.