Egypt to buy 55 LNG cargoes

Egypt’s EGAS will purchase 55 cargoes of LNG from seven companies, the gas company announced on Monday.

Successful bidders include Shell, PetroChina, Noble Group, Trafigura, Vitol, EDF Trading and Gas Natural.

EGAS launched the tender for 45 LNG cargoes in July. The 55 cargoes settled for purchase, 10 more than initially planned, represent 4.68 bcm of natural gas, or about a tenth of the country’s annual consumption.

The cargoes are designated for shipment in 2015 and 2016. The purchase price was not immediately made public.

With oil and gas production falling in recent years, Egypt has become a net importer of gas

The North African country began LNG imports in April following its receipt of a floating terminal from Norway’s Hoegh LNG.

EGAS has struck a number of LNG import deals this year, including an agreement to purchase 35 cargoes from Russia’s Gazprom.

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