On Tuesday, Egyptian Prime Minister Mostafa Madbouly announced that Egypt would need to import around $1.18 billion worth of fuel oil and natural gas to address the ongoing power outages exacerbated by successive heat waves. He detailed that these shipments are expected to arrive in the third week of July, with the government aiming to eliminate electricity cuts during the remaining summer months. Additionally, Madbouly mentioned that Egypt has secured a contract for 300,000 tons of diesel valued at $180 million to bolster strategic reserves, with delivery anticipated in the coming week.
During a recent heat wave, electricity consumption soared in Egypt, leading the government to extend daily power outage periods from two hours to three hours. Madbouly clarified that this extended outage schedule will continue until the end of June and then revert back to two-hour periods in the first half of July. The ultimate objective is to eliminate power outages for the remainder of the summer months.
The Egyptian government’s actions aim to mitigate the impact of the heat wave on power supply and ensure uninterrupted electricity for households in Egypt. The ongoing power outages have been a major concern for many residents who have had to deal with hot and humid conditions without access to air conditioning. With this announcement, it is hoped that life will return to normal soon and people can enjoy their summer without any disruptions.
Overall, Madbouly’s speech provided clarity on how Egypt plans to address its energy crisis during this challenging time. By importing fuel oil and natural gas, securing strategic reserves and extending power outage periods as needed, Egypt is taking steps towards ensuring a stable energy future for its citizens.
