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Egypt in talks to buy five LNG shipments from Algeria for power generation

: Wednesday, July 09 - 2014 @ 00:42

The Egyptian Natural Gas Holding Co (EGAS) is in talks with Algeria’s Sonatrach to secure five shipments of liquefied natural gas (LNG) for electricity production over the summer months, Daily News Egypt has reported. EGAS needs about $1bn during the three summer months to import 17 shipment of LNG, rent a regasification vessel and dock at Ain Sokhna, and sign letters of guarantee, company chairman, Khaled Abdel Badie, said.

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Wednesday, July 9- 2014 @ 0:42 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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