Egypt is reportedly to issue a tender in early June to buy up to $3 billion of liquefied natural gas over 2016 and 2017.
Egypt’s energy woes have seen the country turn from a net exporter to a net importer as local demand grew amidst declining production.
The country recently secured 90 cargoes of the liquefied natural gas, majority of which came through a $2.2 billion tender. The second tender is aimed to secure supply to the second FSRU the country is looking to set up, Reuters reports.
The Egyptian Gas Holding Company’s chairman Khaled Abdel Badie said the bidding for the second FSRU will end this month.
According to traders, the second tender will seek 96 cargoes for the delivery from 2016 through 2017, although Abdel Badie said EGAS has not yet decided on the number of shipments.
According to Egypt’s Ministry of Petroleum, the country is in advanced talks with BP for the supply of additional 21 cargoes of LNG.
LNG World News Staff; Image: Höegh LNG