Egypt Signs LNG Import Deal with Trafigura

Egyptian Natural Gas Holding Co (EGAS) has signed a contract with Trafigura to import LNG, Egypt’s Amwal Al Ghad newspaper reported Thursday.

Khaled Abd El Badee, EGAS's Chairman said Trafigura would supply Egypt with 33 cargoes of LNG between 2015 and 2016.

Abd El Badee added that Egypt is expected to sign more contracts to import another 75 LNG cargoes in coming days, the newspaper reported.

In the past few weeks, the government has signed LNG import deals with Algeria and is in talks with Gazprom.

In December, Algeria and Egypt signed a previously announced natural gas deal. As per the deal Algeria will supply 850,000 cubic meters of LNG in six shipments to Egypt during 2015. The two countries will begin fresh talks shortly 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.

Cairo is also expected to sign a deal to import LNG from Gazprom. Egypt is likely to buy 35 shipments of LNG over the next five years from the Russian company. Shell is another company likely to begin supplying gas to Egypt this year.

Earlier this month reports Platts quoted Shell's Middle East and North Africa region vice president, Mounir Bouaziz, as saying that the company will supply Egypt with 1 million mt/year of LNG, starting this year.