Following in the footsteps of several gas-exporting countries that have become importers, Egypt is preparing to buy liquefied natural gas for the first time, thus is going to award LNG import license within two weeks.
This decision comes as domestic production fails to keep pace with demand growth.
Sherif Soussa, chairman of the Egyptian Natural Gas Holding Co. (Egas) said, in an interview with Bloomberg, that five companies submitted their bids, in a tender which ended yesterday, and that Egas will probably award more than one license.
As of the second half of 2013 industrial users will be permitted to import a maximum of 1 billion cubic feet a day as explained by Oil Minister Osama Kamal in a statement from November.
[mappress] LNG World News Staff, February 04, 2013; Image: Egas