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FINANCIAL NEWS
Shell in talks with Egypt to enhance natural gas supply
13 Oct 2016
(MENAFN) The Egyptian government aims to increase the local energy supply and restarting LNG exports, as it continues talks with Shell to raise the volume of gas sent to the Idku LNG plant.
Accordingly, Shell”s Idku gas treatment and liquefaction facilities provide an economic edge for the country.
Moreover, the Egyptian General Petroleum Corp. paid Shell USD480mn in Sep in bank installments for Idku supply disruptions.
In addition, Egypt owes Shell USD1.3bn as of July; a sum that has increased due to unpaid production at the Borollos and Rashid fields.
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