Egypt will boost its floating storage and regasification units (FSRUs) to four this summer, up from just one last year, in a bid to safeguard electricity supplies during peak demand months, Prime Minister Moustafa Madbouly said Wednesday. The move comes as Egypt braces for a seasonal dip in domestic natural gas output. "We are securing additional FSRUs to ensure there are no power cuts this summer, as we promised," Prime Minister Madbouly said during a weekly press briefing in Cairo. Egypt's natural gas production is expected to hit its lowest point during the summer months, but is projected to pick up by September as recent exploration activity translates into higher output. The government also remains hopeful for new discoveries in the near term. "Even without new discoveries, we anticipate returning to pre-crisis production levels within two years," Prime Minister Madbouly added. "If new finds come through, Egypt could accelerate its path back to being a gas exporter." The energy strategy comes amid growing pressure on Egypt's infrastructure, with power demand surging in the summer due to increased air conditioning use. The additional FSRUs will allow the country to import and regasify more liquefied natural gas (LNG) to plug the shortfall. Egypt has pivoted from being a gas exporter to a seasonal importer over the past year, as domestic production declined and demand outpaced supply. The government has since ramped up LNG import deals and regasification capacity to stabilise the grid. Attribution: Amwal Al Ghad English
