Egypt needs 100 cargos of LNG in 2017 worth around $2.2bn

Egypt’s state gas board EGAS has determined that the country needs around 100 shipments of liquefied natural gas (LNG) in 2017 and has already secured 60 shipments through a tender, a high-ranking EGAS official told Reuters on Wednesday.

The official, who spoke on condition of anonymity, said Egypt would secure its remaining LNG needs for the coming year through memorandums of understanding (MOUs) it has signed with other countries and would pay a total of around $2.2 billion for its 2017 LNG needs.