The petroleum sector has been able to fulfill its financial obligations in business dealings on a regular basis, Ministry of Petroleum spokesman Hamdi Abdel Aziz said. The statement was meant to dispel stories about delays in payments owed to international companies for the value of contracted LNG shipments.

He clarified that since the start of LNG imports in April, until the end of December, 54 shipments valued at $4.1b have been paid for, adding that  between 6-8 shipments are imported monthly.

He also denounced the false statements published recently over the BP LNG shipment that was redirected. The shipment was merely postponed until August after reaching an agreement with BP. He stressed that there were 9 international suppliers that have been contracted to import liquefied natural gas and there have not been any problems in Egypt’s business dealings with them.

Abdul Aziz added that the petroleum sector does not only import liquefied natural gas shipments but has also been importing large quantities of different petroleum products from international companies. There is mutual trust and respect between international suppliers and Egypt’s petroleum sector, Abdel Aziz said.