CAIRO – 22 February 2024: The Cabinet approved on Thursday suspending the load-shedding program across Egypt throughout the holy fasting month of Ramadan.
Ramadan is expected to start in Egypt on March 11 this year.
The Cabinet has been implementing systematic power cuts in the different governorates since July last year due to the severe heatwave and significant increase in electricity consumption last summer.
The increased consumption has put severe pressure on the power networks and subsequently led to a drop in their gas pressure, the government said at the time.
Since June 2015, Egypt has achieved energy independence and electricity surplus, becoming also a significant exporter of natural gas, primarily to European markets.
In 2018, Egypt proudly announced the attainment of self-sufficiency in natural gas consumption, marking the end of gas imports.
This achievement was made possible by the steady growth in domestic production and the discovery of abundant gas reserves, notably the Zohr gas field located in the Mediterranean.
While Egypt experienced a surge in liquefied natural gas exports in 2022, reaching a value of $8.4 billion for 8 million tons, the latest data from S&P Global indicates that exports in 2023 declined by approximately 50 percent.
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