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).


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE