The Egyptian government has purchased 20 shipments of LNG for approximately $907 million to fulfill domestic requirements from October to December, according to Unnamed sources who informed Reuters.

 The Egyptian General Petroleum Corporation (EGPC) granted the contract through a six-month deferred payment arrangement.

According to Reuters, this tender represents the first winter LNG tender for the country since 2018.

The awarded companies include major players such as Glencore, Gunvor, MEX International, Trafigura, Vitol, Hartree, BB Energy, TotalEnergies, Shell, Saudi Aramco, and BP. S&P Global reports that Aramco secured the highest number of cargoes, approximately 6-7, while the other companies obtained between 1 to 3 cargoes each.

EGPC recently released the tender for 20 shipments, with 17 of them designated for its floating import terminal at Ain Sokhna and the remaining three for delivery to Jordan’s Aqaba. This tender marks one of the largest ever issued by the state-owned firm. The deadline for the tender was on September 12th.

The EGPC received offers from more than 15 prominent companies at rates that were highly competitive, reportedly 30-40% lower than the anticipated market prices, according to a source familiar with the trading activities who spoke to Reuters.

The offers were in the range of $1 or slightly more per million British thermal unit (BTU) premium to the benchmark Dutch TTF, which stands at approximately USD 0.60 per million BTU.

Egypt will receive seven shipments next month, six in November, and seven in December.

The Egyptian government needs to import another 17-20 shipments in 1Q 2025, a government source told Enterprise last week.