• U.S. Exim to unlock $100B for critical minerals, gas, nuclear projects
  
• Egypt gets $4B credit guarantee to secure U.S. gas amid output decline
  
• Pakistan's Reko Diq mine, Egypt LNG, and global projects receive Exim support

The U.S. Export-Import Bank (Exim) plans to make up to $100 billion available to secure American and allied supply chains for critical minerals, nuclear power and natural gas, Exim President John Jovanovic said on Sunday. One of the first measures is a $4 billion credit-insurance guarantee for Egypt to secure gas deliveries from U.S.-based Hartree Partners, underscoring Cairo's role in Washington’s energy strategy.

Exim also confirmed a $1.25 billion loan for Pakistan’s Reko Diq copper-and-gold project, operated by Barrick Gold, along with financing for projects in Europe.

“We can’t do anything else that we’re trying to do without these underlying critical raw material supply chains being secure, stable and functioning,” Jovanovic told the Financial Times.

Egypt’s gas output has kept falling, reaching 4.3 billion cubic feet per day (bcf/d) in January against demand of 6.2 bcf/d. The country has again become a net importer, including of Israeli gas flows; it imported 15 LNG cargoes in the first quarter of 2025, totalling 1.1 million tonnes.

Exports have slumped 92%, dropping from $7.2 billion to $605 million between 2022-23 and 2023-24, largely because production at the Zohr field has halved since 2019.

Despite the decline, authorities continue to expand the domestic network. Some 572,000 new households were connected, bringing the total to 15.5 million. Egypt is also stepping up exploration in the Mediterranean under agreements with BP, Shell, Eni, Arcius Energy and Zarubezhneft. A recovery plan targets output of 6.6 bcf/d by 2027.

The renewed U.S. push mirrors the Trump administration’s emphasis on large fossil-fuel projects, illustrated by the revival of $4.7 billion in financing for Mozambique LNG after a pause under Biden. Egypt’s inclusion in Exim's new operations signals Washington’s intention to secure strategic energy flows and deepen its influence over African and other energy infrastructure.

Olivier de Souza