Egypt and Russia to finalize LNG deal
Egypt and Gazprom had agreed in principle last April that Gazprom would supply Egypt with seven LNG shipments as the country struggles with an ongoing energy crisis.
According to media sources, a delegation from Gazprom will visit Egypt around mid-January. If the visit is concluded with positive results, the deal with Russia will be the second LNG deal concluded by Egypt since the country signed an agreement with Algeria for six LNG cargoes in late December.
Egypt has been struggling to secure gas imports given their lack of LNG terminals, which can receive natural gas which has been chilled into a liquid state. However, the country contracted Norway’s Hoegh LNG for a floating storage and regasification unit, which opens the door for LNG imports. The terminal is expected to be operational by the end of March.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe
- China’s local PP, PE markets snap nine-week rally
- Turnarounds keep PP supply tight in SE Asia
- European PP market sees step backs from initial July offers