US EXIM bank approves $2bn in credit guarantees to support LNG exports to Egypt

The Board of Directors of the Export-Import Bank of the US (EXIM) has approved credit guarantees worth over $2bn to support the export of US liquefied natural gas (LNG) to Egypt, according to a statement on the bank’s website on April 5.

The move aims to help Egypt bridge its energy gap as domestic production declines and regional conflicts disrupt traditional supply routes.

Egypt is currently facing a significant natural gas deficit of roughly 2.5-3bn cubic feet per day (bcf/d), a gap driven by domestic production falling to 4.1 bcf/d against a consumption demand of 6.5 bcf/d. To manage this shortfall through 2026, the government plans to import over 140 LNG shipments at an estimated cost of $3bn for the summer peak alone, while simultaneously working to restore self-sufficiency by drilling 480 new wells by 2027. 

The decision is expected to support LNG shipments scheduled for 2026 and 2027 under contracts between Hartree Partners and the Egyptian General Petroleum Corporation (EGPC). It will expand access to reliable US energy supplies and strengthen trade relations between the US and Egypt.

The move aligns with the US administration's priorities to expand US energy dominance, support domestic supply chains, and enhance the US's economic security.

EXIM Bank Chairman John Gavronovich said that US energy is in demand, and workers should be the ones to meet that demand. He added that the authorization puts US energy resources at the service of a vital market, supports US exporters who need a competitive partner, and deepens a strategic relationship that secures supply chains and opens new horizons for the American industry.

Earlier, Egypt selected Hartree Partners to seal a natural gas deal estimated at around $4bn as part of its plans to diversify its energy supply sources. Last year, Egypt's imports of US gas increased by 257% year-on-year (y/y), reaching nearly 435bn cubic feet.

In 2024, the US exported $2.52bn in petroleum gas to Egypt, and by late 2025, American LNG accounted for over 90% of Egypt's total gas imports.