Traders Clean Up In Egypt LNG Import Tender

Insistence on deferred payment means Cairo is paying over the odds for LNG.

Trading houses Glencore, Trafigura, BB Energy, Gunvor and Vitol were the winners of a 60 cargo tender to supply Egypt with LNG over the next two years. This would appear to be the first instalment of a 96-cargo tender Cairo was hoping to launch before the end of 2016 (MEES, 7 October).

Egypt’s state gas firm Egas had previously awarded tenders to both natural gas producers and trading houses, but this latest award has seen only trading houses awarded cargoes with Swiss-registered Glencore due to supply the bulk of those with 25 (see table). Netherlands based Trafigura will supply 18 cargoes while BB Energy, Gunvor and Vitol will supply the rest. (CONTINUED - 550 WORDS)

DATA INSIDE THIS ARTICLE

table Egypt Lng Import Deals