Egypt signs gas import deal with American energy firm

Tuesday 17-02-2015 12:19 PM
Egypt signs gas import deal with American energy firm

CAIRO, Feb 17 (Aswat Masriya) – Egypt signed a deal to import seven shipments of liquefied natural gas (LNG) with American energy giant Noble Energy on Monday night.

The state's Egyptian Natural Gas Holding Company (EGAS) signed the deal which will last two years, with Egypt receiving its first gas shipment in April. The signing was attended by Egypt's Petroleum Minister Sherif Ismail.

A delegation from Noble Energy arrived to discuss the deal earlier in February, Reuters reported. 

In May 2014, the energy giant announced an initial and non-binding agreement to supply Egypt with natural gas, in a press release.   

EGAS Chairman Khaled Abdel Badee told state-run news agency MENA that in the upcoming period, Egypt will be sealing several deals with  firms that have won global tenders put forward by EGAS.

Amid an energy crisis which exacerbates in the summer, Egypt has already signed deals with the Algerian Sonatrach to import six gas shipments in 2015 and with Dutch multinational Trafigura to import 33 shipments in 2015 and 2016.          

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