Four companies win Egypt’s USD 2.2 bln LNG supply tender

In its search to diversify energy sources, Egypt awarded a US$ 2.2 billion tender to four international companies, informed the country’s gas board. 

The tender will see the firms deliver four cargoes per month, 75 cargoes of LNG in total, over a period of about two years, EGAS’ chairman Khaled Abdel Badie told Reuters.

Egypt received seven bids for the tender in October last year, but Abdel Badie did not reveal the names of the four winning companies.

Country’s inability to import LNG until recently caused it to turn from a net exporter to a net importer with most of the domestic gas production being diverted to power generation.

Recent five-year charter deal with Höegh LNG for the FSRU Gallant opened the door for Egypt to finalize a deal with Algeria for LNG imports and according to recent reports the country is close to finalizing the agreement with Gazprom for additional LNG supplies.

LNG World News Staff; Image: Höegh LNG