The Egyptian Natural Gas Holding Company (EGAS) is extending the timeline for its liquefied natural gas (LNG) tender by two days, Amwal Al Ghad reports.
Bids will now be accepted until October 31st.
The tender is for 12 cargoes of LNG to be delivered during the first quarter of 2018, according to Amwal Al Ghad.
When first announced, the deadline for submitting bids was on October 29th, Amwal Al Ghad previously reported.
The LNG will be processed through Floating Storage Regasification Units (FSRUs). Nine of the cargoes will be processed by Egyptian FSRUs and three by the Jordanian FSRU at Aqaba.
In fiscal year 2016/2017, the Ministry of Petroleum and Mineral Resources spent between $2.2 billion and $2.4 billion on LNG imports, an official at the Egyptian Natural Gas Holding Company (EGAS) told Al Mal News. During FY 2017/2018, expenditures on LNG are expected to fall to $1.8 billion, according to the Minister of Petroleum and Mineral Resources, Tarek El Molla.