Gazprom, Egas sign LNG supply deal

Russian giant Gazprom and the Egyptian state-owned gas company, Egas, have reportedly put pen to paper on a five-year LNG supply deal. 

Egypt’s trade industry and investment minister, Mounir Fakhry Abdel Nour, told RIA Novosti that the agreement was signed on Saturday.

Under the agreement, Gazprom will deliver six LNG cargoes annually for over a period of five years.

In November last year, Egas signed a time charter party contract with Höegh LNG for the FSRU Höegh Gallant which is scheduled to start operating in March. The deal is for five years.

Egypt recently closed the deal with Trafigura for 33 LNG cargoes and expects to finalize LNG supply contracts with the awarded companies in the US$2.2 billion tender.

Image: Höegh LNG