Egypt and Gazprom close to signing LNG deal

EGAS Chairman Khaled Abdel Badie

Egypt and Gazprom: Egyptian officials are close to finalising a deal with Russia’s Gazprom for the supply of LNG gas, local media reports said today (February 4). “Intensive meetings with the Russian delegation are under way where the sides are discussing the number of shipments on which a contract could be signed, as well as the date of their delivery, prices and a range of technical issues,” Khaled Abdel Badie, Chairman of the state-run Egyptian Natural Gas Holding Company (EGAS), is quoted as saying, hinting that a deal is expected this week. In January, Egypt’s Oil Minister Sharif Ismail told the press that the country’s authorities had reached an agreement with Gazprom for the delivery of  35 LNG shipments between 2015 and 2020. Egypt expects to seal  agreements with a further three overseas LNG suppliers in the next few weeks as well to bring the total volume of shipments it receives over the next two years up 14.1 m³. The first shipments are due to begin in April after the first stage of the LNG terminal at the Ain Sokhna port on the Red Sea comes into operation. ITAR-TASS The BRICS Post