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FINANCIAL NEWS
British BG, Egypt in talks to sign energy deal
11 Dec 2014
(MENAFN) BG, the British gas company, said that it is currently in advanced talks with the Egyptian government which could boost its supplies to the country by allowing rival BP to use its pipelines, Gulf Daily News reported.
The company said that this deal could enable BG to raise production at its Egyptian operations, which account for about one-fifth of its global gas output by linking its gas development with BP off the country’s north coast by routing around 350 million cubic feet of gas a day from two undeveloped BP fields into BG’s under-used WDDM offshore pipeline network.
“We’ve been having discussions with BP at an advanced stage. I am sure the agreement will be signed in due course,” BG Egypt President said.
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