Cairo Looks To Ease Energy Woes With $2.2Bn LNG Tender Award

Egypt has awarded a tender worth $2.2bn to import 75 LNG cargoes to international trading firms, Vitol, Noble Group and Trafigura, as well as UK major BP, EGAS chairman Khalid ‘Abd al-Badi’ announced on 25 January.

Presuming a typical 125,000 m³ cargo size, this equates to roughly 2.8 m³/year or 270mn cfd of gas – around 5% of Egypt’s natural gas consumption. According to Reuters, Vitol, Noble Group and Trafigura will take on the majority of the cargoes, with BP only importing a smaller proportion.

Egypt has already this year signed a deal with Algeria to receive six LNG cargoes between April – when it is set to receive a FSRU under a five-year lease – and September this year (MEES, 2 January). A deal to ship a total of 35 LNG shipments over the next five years with Russian state firm Gazprom is also close according to Petroleum Minister Sharif Isma’il, with a delegation from Moscow expected to arrive in Cairo by the end of the month to finalize the deal (MEES, 16 January). (CONTINUED - 662 WORDS)

DATA INSIDE THIS ARTICLE

table Egpc: Blocks Awarded Post-2013 Bid Round