Vitol Joins EGAS LNG Race

zoom The Egyptian Natural Gas Holding Company (EGAS) and the Swiss – based company Vitol have signed a contract to import nine shipments of liquefied natural gas (LNG), Egypt’s Ministry of Petroleum reports. The first shipment is scheduled for June 2015, with the remaining cargoes expected to arrive in Egypt over the following two-year period. Back in January, Egypt selected four companies as winners of a USD 2.2 billion tender for seventy-five LNG shipments, which the country plans to receive at its first LNG terminal due to be opened by the end of March. Last week, EGAS signed a deal for seven LNG shipments with the Texas-based Noble Energy. Prior to Noble Energy, Egypt had signed shipment deals with Algeria for six, Russia’s Gazprom for seven, and Dutch Trafigura for thirty-three LNG cargoes. EGAS is currently in talks with BP Company for further twenty-one LNG shipments.