A Review of the Nigerian Energy Industry

Agreement inked with Gazprom to supply liquefied gas to Egypt

Petroleum Minister Sherif Ismail of Egypt.
Petroleum Minister Sherif Ismail of Egypt.

30 August 2015, Cairo – Petroleum Minister Sherif Ismail said on Thursday 27/08/2015 that an agreement was inked with Russian company Gazprom to supply amounts of liquefied gas to Egypt for the upcoming two years.

Ismail’s statements come during his visit to Russia where he is accompanying President Abdel Fattah El Sisi on his third visit to the country since assuming post.

The Minister added that the Russian company has started to supply Egypt with liquefied gas in the last two months.

The ministry also signed an agreement with Russian RussNeft Company to supply amounts of liquefied gas within one month in which eight shipments will be annually delivered to Egypt.

Another agreement will be inked soon to supply Egypt with amounts of diesel and cooking gas as well as facilitating the repayment period, the Minister said.

Meanwhile, Ismail added that a delegation from Russian RussNeft Company will visit Cairo during September to discuss means of working in research, exploration, production and development fields in Egypt.

The upcoming period will witness more investments in Egypt that reach about 7-8 billion dollars annually, the minister further said.

Minister Ismail also asserted that agreements with Russia are not a replacement for agreements with other countries in petroleum field.
*Egypt State information Service

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