The Export-Import Bank of the United States (US Exim) has signed a major export credit insurance deal worth over US$2bn to support LNG exports to Egypt, as energy supplies in the region tighten due to the Middle East conflict.
The deal involves US-based energy and commodities trader Hartree Partners and Egypt’s state-owned oil and gas company Egyptian General Petroleum Corporation (EGPC).
As part of the arrangement, the US export credit agency will support LNG shipments scheduled across 2026 and 2027 under Hartree’s contracts with EGPC.
“This authorisation puts US energy molecules to work in a critical market, stands behind American exporters who need a partner willing to compete, and deepens a strategic relationship that secures our supply chains and opens new doors for US industry,” said US Exim chairman John Jovanovic.
The US chargé d’affaires in Egypt, Robert Silverman, added the deal would allow for Egyptians to “receive reliable, affordable energy” and for American companies to “support good-paying jobs at home and reinforce American leadership in the global energy market”.
US Exim – which is undergoing Senate scrutiny as it seeks to secure a 10-year extension to its mandate, expiring at the end of 2026 – said the approval supports the competitiveness of American producers and exporters in strategic international markets.
The US is already the world’s largest LNG exporter, having shipped a record 111 million metric tonnes in 2025, according to London Stock Exchange Group shipping data. It is also Egypt’s largest LNG supplier, Egypt Oil & Gas has reported.
The deal comes as US President Donald Trump negotiates with Iran’s leadership to reopen the Strait of Hormuz, the closure of which has effectively removed over a fifth of global liquefied natural gas supply from the market, according to the International Energy Agency.
Natural gas prices fell sharply this morning following news of a two-week ceasefire between the US, Israel and Iran, which includes Tehran’s commitment to reopen the vital trade route.
European gas prices dropped by 20%, while the UK natural gas contract for May fell by nearly 18%.
