Rosneft, Egypt agree LNG delivery term sheet

Rosneft Chairman of the Management Board Igor Sechin and Egyptian Natural Gas Holding Company Chairman Khaled Abd El Badee signed a term sheet for future supplies of liquefied natural gas to the Egyptian company.

The document defines key terms of the future cooperation between the companies in the area of LNG supplies, Rosneft informed in a statement.

Abd El Badee added that under the term sheet, Rosneft will deliver 24 cargoes of liquefied natural gas to Egypt for a period of two years starting in the last quarter of 2015.

Egyptian Ministry of Petroleum said the imported quantities of LNG will be used to meet the domestic market needs and fill the gap between domestic production and consumption until new gas field project developments are completed.

LNG World news Staff; Image: Ministry of Petroleum of Egypt