Egypt, Algeria agree 750,000 cbm LNG deal

Egypt has finalized the deal with Algeria to import 750,000 cbm of LNG in 2015 in six shipments. 

According to Algerian Press Service, the agreement was signed by Sonatrach and Egas officials. The deal was signed during the working visit of the Egyptian Minister of Petroleum, Sherif Ismail, to Algeria.

Ismail told the press that these shipments should consolidate Egypt’s domestic demand.

He further added that in the third week of January both parties will enter a new round of negotiations for possible gas supplies from Algeria to Egypt for the period between 2016 and 2020. Negotiations are set to start in Cairo.

Algeria’s Energy Minister Youcef Yousfi added that, the negotiations set for next month will enable Sonatrach to increase its supplies to Egypt.

The negotiations are part of the call for tenders launched by the Egyptian government for the gas supply between 2016 and 2020.

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LNG World News Staff; Image: Egyptian Ministry of Petroleum