Egypt strikes LNG supply deal with BP

Liquefied natural gas import deal between Egypt and BP has reportedly been reached closing the last agreement under the country’s $2.2 billion tender.

Reuters cited EGAS head Khaled Abdel Badie saying the deal with BP has been reached for 16 cargoes of LNG for delivery through 2015-2016.

Egypt initially looked to complete the 70 deliveries it sought for in its initial tender with 21 cargoes from BP but delays in signing the deal have cut down on the number of deliveries that were supposed to start in April.

Egypt has agreed to import 33 cargoes from Trafigura, nine from Vitol and seven from Noble Group. With the 16 cargoes from BP, Egypt has secured 65 out of sought 70 cargoes through its tender.

The country has, however, signed deals with Algerian Sonatrach for six cargoes and Russian giant Gazprom for 35 deliveries.

LNG World News Staff; Image: Höegh LNG