Egypt has added nine cargoes to the five that were scheduled to load in the last two months of 2020. All told, the 14 cargoes set to load in November and December are twice the seven that loaded in the entire first nine months of 2020. An eighth cargo, the first since July, and only the second since early March, sailed for Kuwait this week (see table).
The decision of Egas to authorize a sharp increase in export volumes comes after key Asian buyers approached the state firm to request additional cargoes. Asian spot LNG prices are at a nine-month high of $6.90/mn BTU for December-delivery (the equivalent of those leaving Egypt over the next few weeks), according to the latest Reuters assessments. (CONTINUED - 941 WORDS)