News24 Business | Egypt plans R22bn energy imports to end load shedding

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Egypt, a mostly desert country that’s heating up at one of the world’s fastest rates, saw temperatures in Cairo recently surpass 40C on some days. Demand for cooling is putting pressure on the power grid. (Chuchart Duangdaw/Getty Images)

The funds will be used to import 300 000 tons of heavy fuel oil and other energy needs, Prime Minister Mostafa Madbouly said on Tuesday in a televised address, without elaborating. More may be needed depending on the severity of the summer heat, he said.

Egypt, a mostly desert country that’s heating up at one of the world’s fastest rates, saw temperatures in Cairo recently surpass 40C on some days. Soaring demand for cooling is piling pressure on the power grid, and authorities — who recently agreed a $57 billion bailout — are being forced into their highest imports of liquefied natural gas since 2018. That marks a turnaround for a country that previously exported LNG to Europe.