LNG, Private Imports To Bridge The Gas Deficit

As EGAS attempts to lure firms to bid for blocks, Cairo is looking to bridge its growing gas deficit with the import of LNG as summer months and peak demand fast approach. EGAS chairman Khalid ‘Abd al-Badi’ told Reuters this week that he expects a new $3bn tender to be launched in early June for more LNG shipments. The new tender will see the import of roughly 100 cargoes over the next two years with first cargo expected in the latter stages of this year.

State oil firm EGPC has since December finalized deals to import 76 LNG cargoes by mid-2017 and a further 35 cargoes over five years from mid-2015, under the latest deal signed last month with Russian-state firm Gazprom (MEES, 3 April). (CONTINUED - 518 WORDS)