Egypt in Talks to By LNG from Gazprom

Egyptian Natural Gas Holding Company (EGAS) is in talks with Gazprom to buy 13 Russian shipments of LNG equal to 30 billion cubic feet, report Egypt Independent.

According to the newspaper, these shipments will be allocated to Gas France and British Gas (BG) companies, within the framework of an exchange agreement finalized with both companies in last March.

According to the agreement, Egypt received 18 shipments from the Gas France and British Gas (BG) companies and must pay for the shipments in gas rather than money, Egypt Independent says .

Five shipments have been returned to both companies through shipments Egypt received from Qatar last June, an official from EGAS said.

Egypt suffers from a shortage of one billion cubic feet of gas per day, after domestic consumption of natural gas reached approximately 6.7 billion cubic feet.

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