Egypt to Seal LNG Supply Deal with Gazprom
- Business & Finance
Egypt plans to conclude an agreement with Russia’s Gazprom for the company to supply it with liquefied natural gas (LNG) shipments later this month, as informed by Egypt’s Petroleum Minister Sharif Ismail on Sunday.
The two parties signed an agreement in principle in April on the supply of seven LNG shipments.
Egypt is looking at opportunities to secure sustainable gas supply as it struggles to resolve the ongoing energy crisis.
The Minister told Reuters that a Gazprom delegation would visit Egypt in mid-January when the details of the deal should be finalized.
Egypt has already signed a deal with Algeria in December for delivery of six LNG cargoes.
The country is about to get its first LNG receiving terminal by the end of March enabling it to start importing LNG.
World Maritime News Staff