Glencore Wins Big in EGAS LNG Tender

Tuesday, November 29, 2016

Glencore was the big winner in the EGAS tender for LNG cargos. The firm won the right to supply 25 of the cargos that Egypt’s state-run gas firm awarded.

According to a Reuters trading source, Trafigura won the next highest amount of tenders, winning the right to supply about 18 cargos of LNG. Other parties successful in EGAS’ tender included BB Energy, Gunvor and Vitol, the sources added.

State-run EGAS, which issued the import tender in late-October, was seeking 96 cargos for delivery in 2017 and 2018 in total, with an option to buy 12 additional cargoes in 2017.

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