The Egyptian Oil Ministry has stated that Qatar will supply the North African country with 18 to 24 cargos of up to 9.3mn cubic metres of liquefied natural gas (LNG) for a four month period starting 28 May 2013
According to the deal, the UK’s BG Group and Malaysia’s Petronas will provide Egypt with 14.1mn cubic metres a day of the natural gas they extract in the country, while Qatar Gas will export LNG directly to the companies’ overseas customers, the Middle East News Agency reported.
As part of the 'swap deal', Qatar will provide Egypt up to 24 cargos of LNG produced.
The Egyptian Oil Ministry said that the two countries were still negotiating the terms for the deal, adding that it was also working to secure oil and gas supply deals on favorable credit terms from major producers.
Libya has agreed to offer Egypt close to one million barrels a month of crude oil on a one-year credit term, officials from the two countries informed.
Iraq has also agreed on a draft contract to supply Egypt with four million barrels of crude a month on three-month interest-free credit.
READ MORE...
