Rosneft Receives Payment for First LNG Cargo to Egypt

Rosneft Receives Payment for First LNG Cargo to Egypt

Egypt has paid $15.6m for its first ever supply of liquefied natural gas (LNG) from Russian state-owned oil company Rosneft delivered to the country in May 2016, Tass Russian News Agency reported. The volume of 0.06mt was delivered at Ain Sokhna port along Egypt’s east coast, Amwal Al Ghad informed.

The GOLAR ICE tanker delivered Rosneft’s first lot of LNG under the Master LNG Supply and Purchase Agreement with the Egyptian Natural Gas Holding Company (EGAS) which was signed in August 2015. Under the two agreements that Cairo signed with Rosneft, Egypt’s Petroleum Ministry contracted the Russian firm to provide the country with a total number of 24 LNG shipments over the course of two years.

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