Egypt’s Oil Ministry and Russia oil producer Rosneft announced Tuesday the two sides struck a deal for the supply of petroleum products and liquefied natural gas.

Rosneft, Egypt strike energy import deal

CAIRO, July 7, 2015 – Egypt’s Oil Ministry and Russia oil producer Rosneft announced Tuesday the two sides struck a deal for the supply of petroleum products and liquefied natural gas.

The country’s ministry also announced in a statement that Russia’s top oil producer will provide benzene and bitumen, 24 liquefied natural gas cargoes for two years beginning in the last quarter of 2015. These provisions will be given to state oil company Egyptian Gas Holding Company.

Rosneft also plans to supply Egypt with liquefied petroleum gas to enter into the larger North African market.

“The implementation of the terms of the signed document will allow Rosneft to access the high growth potential Egyptian gas market and deepen broader co-operation between the two companies,” the Russian state giant said on Tuesday.

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