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FINANCIAL NEWS
Qatar to repeal new LNG pacts with Egypt
27 Jul 2017
(MENAFN) Qatar posted that it will not accept the new offers by third-party traders to get fresh liquefied natural gas (LNG) supplies to Egypt, increasing fears that a diplomatic strains aid both sides could limit local energy trade.
Furthermore, top LNG producer Qatar covers almost 60% of Egypt’s LNG needs while ties are not stable as Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut relations and ordered new sanctions on the gas-rich Gulf state last month against Qatar.
Never the less, after gulf row, offers by about two firms to buy extra LNG from Qatar have been canceled without explanation.
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MENAFN2707201700450000ID1095662637
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