Egypt will import around $3.55 bn worth of liquefied natural gas (LNG) in the current financial year, an EGPC official said to Reuters on Tuesday.
“The cost of the LNG that will be imported during 2015-2016 will be around $3.55 billion,” an EGPC official told Reuters by phone, speaking on condition of anonymity.
While Egypt has long been an LNG exporter, it can now begin importing via the floating import terminal it recently acquired. The EGAS state gas board has agreed to import 35 LNG cargoes from Russia’s Gazprom over five years. Other arrangements include 33 cargoes from Trafigura, 9 from Vitol, 7 from Noble and 6 from Algeria’s Sonatrach.