Pre-Trading Thoughts

The Madbouly government is in the process of drafting an investment plan to offer the Red Sea’s Ras Banas to private sector players in a transaction similar to ADQ’s Ras El Hekma USD35 billion agreement. Egypt has bought 20 cargoes of liquefied natural gas (LNG) via the first tender issued to cover its winter demand since 2018, securing full volumes it was seeking at smaller-than-expected premiums. UAE’s AMEA Power will invest USD800 million to develop two renewable energy projects in Upper E...