Egypt Clarifies Deal to Buy 7 LNG Shipments is With Noble Group Not Noble Energy

Egypt’s Ministry of Petroleum has clarified that it has signed an agreement to import seven LNG shipments with Noble Clean Fuels Limited not Noble Energy.

Noble Clean Fuels Limited is a unit of Hong Kong based Noble Group.  

On Monday, the ministry had announced a deal with Noble Energy but on Tuesday it clarified the deal has been inked with Noble Group. On Wednesday the HK based Group also issued a statement announcing the deal. 

As per the agreement, which was signed in the presence of Egypt’s Minister of Petroleum and Mineral Resources Sherif Ismail between EGAS and Noble Group, shipments would commence in April for two years.

Egypt is reeling under severe gas shortage due to falling domestic production amid rising usage. In recent months, Cairo has signed deals to source gas from various sources.