Egypt to Get First Qatari LNG by Month End

Egypt will receive the first shipment of Qatari LNG by the end of May under a gas swap deal that includes the foreign companies extracting gas locally, state-run daily newspaper Al-Ahram reported on Monday.

Under the arrangement, Egypt will buy the share of foreign companies in locally extracted LNG, the newspaper said. The foreign companies will then take the LNG being imported from Qatar. The amount of awaited Qatari gas imports is yet to be revealed.

The shipment is part of a total of 18 batches have been pledged by Qatar to the Egyptian government to help meet country’s electricity needs to avoid blackouts in the summer.

Egypt is currently negotiating with Qatar over setting LNG prices, and to paying for the LNG over several phases, Al-Ahram added.