Algeria, Egypt Sign LNG Deal

Algeria and Egypt on Monday signed a previously announced natural gas deal.

According to Egypt's Minister of Petroleum, as per the deal Algeria will supply 850,000 cubic meters of LNG in six shipments to Egypt during 2015.

The deal was signed in the presence of Sherif Ismail, Egypt's Minister of Petroleum and Mineral Resources, and Youcef  Yousfi, Algerian Minister of Energy and Mines. 

Earlier this month, Egypt’s oil ministry announced Cairo will import six cargoes of LNG from Algeria between April and September next year.

The two countries will begin fresh talks next month regarding supply of Algerian gas during 2016-2020, the ministry said adding that negotiations will start in Cairo and will be completed by February in Algiers.

The negotiations scheduled for next month is part of the call for tenders launched by the Egyptian government for the supply with gas between 2016 and 2020.