Algeria to send 6 LNG shipments to Egypt

A source claimed that Egypt's state-owned Natural Gas Holding Company is to sign a deal with the Algerian firm for the six LNG shipments within days.

Algeria to send 6 LNG shipments to Egypt

World Bulletin / News Desk

An Algerian state-run petroleum company has agreed to send six shipments of liquefied natural gas (LNG) to Egypt, a senior Egyptian Petroleum Ministry source said on Thursday.

The source told Anadolu Agency that Algeria's government-owned Sonatrach Company had notified his ministry on Monday that it would sell the LNG shipments to Egypt at international market rates.

The Egyptian government is desperately trying to import as many as 18 shipments of LNG (with one shipment equivalent to 250 million cubic feet) to meet growing demand by the nation's electricity plants.

The Petroleum Ministry source said he expected Egypt's state-owned Natural Gas Holding Company to sign a deal with the Algerian firm for the six LNG shipments within days.

Another Petroleum Ministry official told AA earlier that the Egyptian government had agreed with Russian company Gasprom to import seven LNG shipments, starting in August.

The official added that the government had also agreed with a French company to import the remaining five shipments.

An oil and gas producer itself, Egypt continues to suffer from chronic electricity shortages, particularly during the summer season.

Last Mod: 02 Mayıs 2014, 09:30
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