SOCAR Trading targets Egypt in African expansion push

SOCAR Trading is expanding its presence in Africa and targeting the Egyptian market, a source at the company told AN.

According to the source, SOCAR Trading is in talks with Egyptian state entities to supply crude oil, petroleum products, and liquefied natural gas (LNG).

“We are working on entering the Egyptian market. Negotiations are underway for long-term contracts, ranging from one to three years, for the supply of oil, gas, and petroleum products,” the source said.

The company is participating in a tender, and if successful, it plans to launch its first commercial shipments to Egypt.

Amid declining domestic production and reduced gas imports from Israel, Egypt’s demand for gas has significantly increased. According to the International Energy Agency (IEA), Egypt’s annual natural gas consumption stands at around 60–65 billion cubic meters, while oil consumption is about 800,000–850,000 barrels per day.

The domestic LNG supply gap is estimated at 7–10 billion cubic meters per year. Demand for petroleum products (gasoline, diesel) is also rising, growing by 3–5% annually.

Entry into the Egyptian market is part of SOCAR Trading’s broader strategy to expand its supply network across the African continent. In addition to Egypt, the company is developing projects in Kenya and the Democratic Republic of Congo.

N.Tebrizli