Egypt's $3 Bln LNG tender in June

By Aiswarya Lakshmi May 23, 2015

Egypt is reportedly to issue a tender in early June to buy up to $3 billion of liquefied natural gas over 2016 and 2017, Reuters reports.

The country recently secured 90 cargoes of the liquefied natural gas, majority of which came through a $2.2 billion tender. The second tender is aimed to secure supply to the second floating storage and regasification unit (FSRU) the country is looking to set up.

The first tender was awarded to Vitol, Noble Group and Trafigura.

The Egyptian Gas Holding Company’s chairman Khaled Abdel Badie said the bidding for the second FSRU will end this month.

"We aim to issue a tender to issue LNG shipments during the first half of June... The tender aims to provide the needs for the new import terminal," Abdel-Badee added.

Though he said that the amount of shipments have not yet been decided and no final date for procurement has been set, sources told Reuters that Egypt will issue a tender for 96 shipments over the years 2016 and 2017