Egypt to Buy 9 LNG Shipments from Vitol
Cairo has signed a deal with Vitol to buy nine LNG shipments, Egypt's oil ministry said in a statement Thursday.
As per the agreement, which was signed in the presence of Egypt’s Minister of Petroleum and Mineral Resources Sherif Ismail between EGAS and Vitol, shipments would commence in June for two years.
The ministry also said that talks are on with BP to buy the fuel.
In recent months, Egypt has signed numerous deals to import LNG to meet domestic energy demand.
Earlier this month, Cairo signed a deal with Noble Group to buy seven LNG shipments. 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.
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.
On Monday, Cyprus and Egypt signed a MoU pertaining to cooperation in the field of oil and natural gas. The agreement, signed by Egyptian petroleum minister Sherif Ismail and Cypriot energy minister Yiorgos Lakkotrypis in Cairo, aims to promote cooperation between the two countries in the field of development and exploitation of the discovery of Aphrodite gas.