Egypt signs LNG cargo deal worth $2.2bn

Egypt signs LNG cargo deal worth $2.2bn
Egypt has become a net importer of energy in recent years
Published: 26 January 2015 - 2:15 a.m.
By: Christopher Kelly

The Egyptian State gas board has awarded a tender to import 75 cargoes of liquefied natural gas (LNG) to four international companies. The deal is worth $2.2bn, according to the company’s chairman.

Egypt’s beleaguered energy sector has been in decline for a number of years and the North African nation has recently become a net energy importer, rather than exporter.

The four companies will supply four cargoes a month over about two years, Khaled Abdel Badie of state-run Egyptian Natural GasHolding Company (EGAS) told Reuters.

Abdel Badie did not identify the four companies. Seven firms, including London-based energy major BP, bid for the tender in October.


Click here to add your comment

Please add your comment below
Name
Country
Email
Your email address will not be published
Captcha