Egypt has secured its natural gas needs for the next four to five years through a stable regasification system that protects against supply shocks, a Prime Minister Moustafa Madbouly said on Wednesday. Speaking at a press conference, the prime minister said the country's fleet of floating storage and regasification units (FSRUs) provides enough capacity to cover demand and allows Egypt to plan shipments years ahead, moving away from costly emergency purchases, the official said. Regasification remains a temporary measure until domestic production rebounds, supported by renewed foreign investment in exploration and drilling after Egypt cleared overdue payments to partners. The government expects new discoveries to start boosting output within three to four years. "With these vessels, we can now contract for LNG shipments up to three years in advance on better terms for both prices and payment," the prime minister said. A new FSRU stationed at Jordan's Aqaba port recently joined Egypt's fleet, operating as an additional emergency unit. Current capacity remains below its maximum, even during periods of heavy demand. He said the system's stability will help avoid shortages, provided extreme heatwaves do not significantly boost summer consumption. Attribution: Amwal Al Ghad English
