Petroleum Minister Sherif Ismail has inked an agreement with Russian company Roseneft to supply amounts of LNG to Egypt for the upcoming two years, reported All Africa. The Minister added that the Russian company has started to supply Egypt with liquefied gas in the last two months. Ismail’s statements come during his visit to Russia where he is accompanying President Abdel Fattah El Sisi on his third visit to the country since assuming post. UPI quoted a statement by Roseneft saying “Cooperation with EGAS marks Rosneft’s entry into the world LNG trading market. Implementation of the provisions of the signed documents will, in the long term, open access for Rosneft to the Egyptian gas market which has a significant growth potential.”
Egypt Oil & Gas (EOG) learned that the deals include the supply of benzine and bitumen, as well as 24 LNG cargoes for state gas company EGAS over two years starting from the fourth quarter of 2015.