Rosneft, Egas sign master LNG supply, purchase deal

Rosneft Group unit Rosneft Trading SA and Egyptian Natural Gas Holding Co. (Egas) have signed a master LNG supply and purchase agreement.

The document was signed by Rosneft Chairman Igor Sechin and Egas Chairman Khaled Abdelbadie during the visit of Egypt’s President Hussein Abdel Fattah Saeed Khalil al-Sisi’s to Russia.

According to the document, the parties plan to organize the supply of LNG to Egypt. No other specifics were reported.

Cooperation with Egas marks Rosneft’s entry into the world LNG trading market. Also, implementation of the provisions of the signed documents will, in the long term, open access for Rosneft to Egypt’s gas market.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...