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Egypt to receive LNG cargo from Rosneft in May

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LNG Industry,

According to Reuters, Russia’s Rosneft will deliver the first of nine LNG cargoes to Egypt in May 2016. Although a Memorandum of Understanding (MoU) for 24 LNG cargoes (as well as other petroleum products) was signed between Rosneft and EGAS in 2015, a deal was ultimately only signed for nine of them.

Reuters reports that Egypt has become a net importer, due to the decline in oil and gas production, as well as an increase in consumption. Rosneft, meanwhile, is aiming to jointly launch production with ExxonMobil after 2018, but does not currently produce its own LNG.

Edited from various sources by David Rowlands

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