Egypt to receive LNG imports as of April
EGAS had offered a tender last October to import LNG from abroad. Four international companies won the tender, including British company British Gas (BG), multinational company BG, Trafigura and Noble Clean Fuels. The winners of the tender are to provide approximately 40 shipments of LNG annually to Egypt starting next April.
A basic agreement was also made with Russian company Gazprom to provide approximately 35 LNG shipments over the next five years until 2020. These come in addition to six shipments from the Algerian company Sonatrach during 2015, according to Minister of Petroleum Sherif Ismail.
On another note, a Memorandum of Understanding was signed with Cyprus to develop some discoveries related to Cypriot gas from the Aphrodite field. This will take place through creating a maritime line that extends from the Aphrodite field to Egypt. EGAS and Cypriot CH will continue these studies. Studies focused on the technical and financial details are ongoing to import gas from the Aphrodite field and provide supply to the Idku and Damietta liquidation factories, according to Abdel Badie.
Meanwhile, a US company, Noble Energy, is also considering developing a boat with facilities to produce gas from Aphrodite and pump it into a 400km pipeline to Egypt. A delegation from Noble Energy visited Egypt this month to continue negotiations with EGAS.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Bearish PP trend takes no respite on lackluster demand in Turkey
- India import PVC market recedes from all-time high on COVID-hit demand
- Stats: China’s total PP, PE imports in Q1 mark lowest volume in a year
- Vietnamese PE buyers hold off purchases on fears of further price pullback
- European PS on brink of a softer trend after 6 months
- Turkish PP and PE players voice bearish expectations for May
- China’s local homo-PP prices slide below imports
- Irregular PE origins emerge at competitive prices in Europe
- Mid-Eastern sellers backpedal in Africa on competitive PP, PE offers from Asia
- European PVC set to extend longest rising streak into May