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Efforts to meet spiralling gas demand advance despite delays to LNG imports.
Longer than expected negotiations could delay Egypt’s first imports of LNG, a setback to government efforts to secure sufficient energy supplies for the growing domestic market.
These efforts are nevertheless boosted by progress in talks with BP over a large offshore gas development, and the reduction of costly energy subsidies.
LNG imports hinge on a deal to secure a floating regasification terminal, which has yet to be signed, according to the head of Egypt’s state oil company, putting in doubt a September deadline for first shipments of liquefied gas. The purchase agreements for cargos of liquefied gas also still have to be finalised, added Tarek El Molla, Chairman of the Egyptian General Petroleum Corporation (EGPC). (CONTINUED - 1109 WORDS)