Chevron, Shell, BP Target Egypt in LNG Power Play

The race has been on between the world’s leading powers to secure as much of the globe’s current and future liquefied natural gas (LNG) supplies ever since Russia invaded Ukraine on 24 February 2022. Oil and gas prices started to rise quickly from that point, driving inflation higher across the West and threatening economic slowdowns as interest rates began to rise to curb the spiralling prices. As sanctions hit Russia’s previously huge energy supplies to Europe, LNG became the swing energy source to substitute for these lost…