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FINANCIAL NEWS
Egypt to float a tender to import natural gas
23 Dec 2012
(MENAFN) Egyptian Petroleum Minister Osama Kamal unveiled plans to float a tender to import gas to meet growing demand for the fuel, Reuters reported.
The minister added that the tender could be issued in three to four weeks and the shipments could start in the summer.
In October, Egypt said it had agreed to import gas from Algeria and was in talks with Qatar for a similar deal.
Egypt, a gas exporter, has two liquefied natural gas (LNG) plants and a gas export pipeline, but the government has redirected part of the gas contracted for export to the domestic market, which faced fuel shortages and power cuts during the summer.
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