Egypt, Qatar Discuss LNG Deal

Egypt has asked Qatar to be its guarantor for 13 out of 18 shipments of liquefied natural gas from Qatargas, an official from Egyptian gas holding company, Egas said.

The transport and logistics of the shipments are currently under discussion between the two countries, Taher Abdel Rahim, vice president of Egas said, Daily News Egypt reported.

Abdel Rahim stated Qatar had previously agreed to sell each gas shipment at a rate of $13 per mmBTU.

Egypt recently received five shipments of gas, each totalling 16.5 billion cubic feet, as a gift from the Qatari government.

A source within Egypt’s Petroleum Ministry stated that the five shipments of gas given to Egypt by Qatar as a gift were provided in order to meet the required quotas of foreign companies who export energy products to Egyptian electrical stations, Daily News Egypt said.