Russia’s Rosneft, EGAS sign agreement for LNG supplies to Egypt

MOSCOW, August 27. /TASS/. Rosneft Trading SA, /part of Rosneft group/ and Egyptian Natural Gas Holding Company /EGAS/ have signed a general agreement for the supplies of liquefied natural gas /LNG/ to Egypt, state owned oil company Rosneft said in a statement on Thursday. According to the Russian company, cooperation with EGAS marks Rosneft's entering the global LNG market trading LNG. In addition, the implementation of the provisions of the signed documents will enable Rosneft in the long term to get access to the Egyptian gas market with a significant growth potential. State-owned Egyptian Natural Gas Holding Company is in charge of strategic development of the national gas industry. Egypt is the absolute leader among African countries in terms of consumption of gas / Egypt is currently intensively importing gas for domestic use /. Read more