LNG Ships Pile Up Near Egypt Terminals as Demand Craters

Three liquefied natural gas vessels are waiting outside Egypt’s import terminals as scheduling issues and a faster-than-expected seasonal demand decline in the North African nation reduces need for the fuel.

The tankers, which were expected to unload over the past six days, are anchored off Egypt’s terminals in the Red Sea, ship-tracking data compiled by Bloomberg shows. One more vessel, Gaslog Gladstone, docked earlier Thursday after waiting 11 days. Two others are approaching the area.