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Egyptian Oil Minister Sharif Isma’il says that there is a “very high possibility” that Egypt will agree additional LNG import deals with Shell and Total to cover the period 2017-20. Egypt recently signed five LNG import deals, including with BP, totalling around 400mn cfd of gas, but these only cover imports for the next two years (MEES, 27 February).
Egypt currently has no infrastructure to import gas, but will take delivery of its initial floating storage and regasification unit (FSRU), the Höegh Gallant, at the end of this month, with imports to start the following month in time for the ramp-up towards peak summer power demand. (CONTINUED - 302 WORDS)