Minister of Oil Sherif Ismail on Tuesday witnessed the signing of an agreement on importation of liquefied natural gas (LNG) between the Egyptian Natural Gas Holding Company (EGAS) and Russia's Gazprom.
EGAS Chairman Khaled Abdel Badie and Gazprom Board Chairman Aleksey B. Miller signed the agreement.
The contract stipulates the purchase of 35 LNG shipments from the Russian company over five years.
The gas shipments will be handed over to Egypt as of the second half of the current year. The contract comes in accordance with the government’s efforts to provide the required energy for power plants.