Egypt reaches the mid-energy agreements of many energy companies, including Saudi Aramco, to buy liquid natural gas (lng)As the government intends to answer the increased need for power and relieve economic failures and losses due to consistent blackouts around the country.
Agreements reach global energy companies and trade houses, including Saudi Aramco, Shell, Vitol, Trafigura, Socar, and Petrocha. Bloomberg Also added London-based partners to that list.
The two reuters and Bloombergs report the story, but because the Egyptian government does not confirm the numbers, there are differences.
Rabause Said between 50 and 60 cargoes will be used to cover this year’s request – above 75 cargo purchased by the end of the year 202.
Egypt secured major agreements in LNG supply
Bloomberg said Egypt agreed to buy LNG in a two and a half-year period, and that agreements would bring as many times as 290 times, starting next month.
The most populous Arab populations in the world, struggling with the money crisis, endured electric issues in the past two years while the natural gas supply without a need. After years of an exporter, it became a net import of gas last year.
The Ministry of Petroleum in the country, the Company Holding Company in Egypt, and companies involved have not immediately responded to the request of agencies.
Reuters said cargoes are bitten by a premium of $ 0.70- $ 0.75 on top of gas price at Dutch TTF hub, with a nine-month-targeted moon.
Bloomberg reported 180 days only (six months) for the discharged fee for the shipment of the price of a European gas benchmark premium of about 80-95 cents per million units.
