Petroleum Africa
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Tuesday, March 22, 2016
EGAS has made its first payments to suppliers of LNG. The company was supposed to pay within 15 days but had its terms extended to 90 days due to Egypt’s current foreign currency crisis.
EGAS head Khaled Abdel Badie told Reuters his company has made all payments that were due on LNG shipments but did not specify whether these were the first payments this year.
“We agreed with the companies to paying dues owed to them over a period of 90 days, and we are committed to this payment process,” he said.
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