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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 Tariq al-Mulla, Chairman of the Egyptian General Petroleum Corporation (EGPC). (CONTINUED - 1108 WORDS)