Egypt needs 100 cargos of LNG in 2017 worth around $2.2 bln -EGAS source

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Egypt needs 100 cargos of LNG in 2017 worth around $2.2 bln -EGAS source

7:41 CAT | 28 Dec 2016

Black smoke rises from a petroleum and gas company near the Gulf of Suez north of Cairo, Egypt August 17, 2016. Picture taken August 17, 2016. REUTERS/Amr Abdallah Dalsh

Reuters (File photo) / Black smoke rises from a petroleum and gas company near the Gulf of Suez north of Cairo, Egypt August 17, 2016.

Egypt’s state gas board EGAS has determined that the country needs around 100 shipments of liquefied natural gas (LNG) in 2017 and has already secured 60 shipments through a tender, a high-ranking EGAS official told Reuters on Wednesday.

The official, who spoke on condition of anonymity, said Egypt would secure its remaining LNG needs for the coming year through memorandums of understanding (MOUs) it has signed with other countries and would pay a total of around $2.2 billion for its 2017 LNG needs.

Source: Reuters