Petroleum Minister Sherif Ismail said on Sunday that Egypt will complete an agreement with Russia’s Gazprom for the company to supply it with liquefied natural gas (LNG) shipments later this month.
Egypt agreed in principle last April for Gazprom to supply seven lng shipments to help it meet gas supplies needed to face its worst energy crisis in decades.
A Gazprom delegation would visit Egypt in mid-January, Ismail added.
It is understood that, if the agreement is confirmed, the deal will be the second LNG import agreement since necessary infrastructure was completed in November 2014 – the first being a six LNG cargo contract signed between Egypt and Algeria.
The infrastructure involves floating storage and regasification, constructed by Norway’s Hoegh LNG – which opened the gateway for these new import deals. The terminal should be operational by the end of March.