Agreement inked with Gazprom to supply liquefied gas to Egypt

Egyptian Petroleum Minister Sherif Ismail said on Thursday 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, he 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.

He also asserted that agreements with Russia are not a replacement for agreements with other countries in petroleum field.

Egypt's president, accompanied by a high-profile delegation is currently visiting Moscow in which he met with Russian President Vladimir Putin and a number of senior Russian officials to discuss fostering bilateral relations and the latest developments in the Middle East.
Source: MENA