Egypt to complete Gazprom deal in January

12 January 2015

Oil minister says liquefied natural gas import agreement will be finalised by end of month

Egypt will finalise a deal with Russia’s Gazprom to import liquefied natural gas (LNG) later this month, according to the country’s Oil Minister Sharif Ismail.

A delegation from Gazprom is due to visit Egypt in mid-January, Ismail told news agency Reuters.

The country is going through its worst energy crisis in decades as demand for natural gas outstrips domestic production.

Cairo agreed in principle to the deal to import seven Gazprom LNG shipments in April.

The government also signed a deal with Algeria on 30 December to import 750,000 cubic metres of LNG in six shipments.

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