Arab Finance: Trafigura, Vitol, and Glencore International won the tender put forward by Egypt to import 5 shipments of liquefied gas in the coming August and September, as part of the country’s efforts to solve the electricity outage crisis, according to Al-Sharq Economy.
The Petroleum Authority responsible for the tender obtained special prices, in addition to the possibility of deferred payment for a period of up to 180 days. It was also agreed to launch new tenders to import liquefied gas every 3 months.
The contracted quantities, in addition to the existing quantities of diesel, “are sufficient to meet the electricity fuel needs until next September,” adding: “The necessary needs are currently being determined during the last quarter of the year, to launch a new tender to supply shipments of liquefied gas.”
Egypt's natural gas production currently amounts to about 4.6 billion cubic feet per day, while domestic consumption amounts to 6.2 billion cubic feet per day.
Related news
