Egypt is scheduled to resume exporting liquefied natural gas (LNG) after a month-long hiatus following an increase in fuel supplies from Israel, according to Bloomberg.
The Adam LNG ship arrived at the Idku factory in Egypt, according to data reported by the Bloomberg ship tracking network.
A source familiar with Egypt's LNG exports told Bloomberg that this represents the beginning of the return of foreign shipments to the North African country.
The resumption is likely to boost supplies to Europe and increase bearish signals for prices on the continent.
Egypt had previously said that exports would return in October after stopping during the summer, with an increase in domestic consumption.
But only small quantities of storage tanks were dispatched at Idku last month, and plans to boost exports remained on hold after Israel, a major supplier, shut down a key gas field following Hamas attacks on October 7.
Israeli flows have now returned to pre-war levels, and lower demand in Egypt due to slightly lower temperatures has freed up some gas for export, the person familiar with the plan said.
Most of Egypt's liquefied natural gas headed to Europe last year.
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