Rosneft and Egyptian Natural Gas Holding Company (EGAS) have signed a term sheet for the future supply of LNG from Rosneft to the Egyptian company.
Chairman of EGAS, Khaled Abd El Badee, and Chairman of Rosneft’s Management Board, Igor Sechin, signed the document, which defines the key terms of the future cooperation between the two companies in the area of LNG supplies.
Implementation of the document’s terms will allow Rosneft to access the high growth potential Egyptian gas market and develop cooperation between the two companies. This is a key development for Rosneft since Egypt has the highest demand for gas in Africa and the strategic development of the Egyptian gas sector is being overseen by the state-owned EGAS.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/09072015/rosneft-to-supply-lng-to-egas-1012/