Petroleum Africa
Find us on: 
Thursday, July 9, 2015
Rosneft will be supplying petroleum products and LNG to Egypt following the signing of two deals. Egypt’s oil ministry said in a statement the deals include the supply of benzine and bitumen, as well as 24 LNG cargos.
The deals were signed with both state-run oil firm EGPC and state-run gas firm EGAS.
The imports from Rosneft to Egypt will begin in Q4 and will last two years.
Rosneft Chairman of the Management Board Igor Sechin, and EGAS Chairman Khaled Abd El Badee signed a Term Sheet for Rosneft future supplies of LNG. The document defines key terms of the future cooperation between the companies in the area of LNG supplies.
The implementation of the terms of the signed document will allow Rosneft to access the high growth potential Egyptian gas market and deepen broader cooperation between the two companies. In addition Rosneft said that cooperation with EGAS will allow it to strengthen its position in the global LNG market.
The deal with EGPC saw Rosneft’s Sechin and EGPC’s General Director Tarek El-Molla sign a Term Sheet for prospective supplies of oil products and LPG. The document, signed in continuation of agreements reached at the St. Petersburg International Economic Forum defines key terms of cooperation between the companies in the area of oil products and LPG direct supplies. Rosneft and EGPC expect binding agreements based on the agreed Term Sheet to be signed within Q3.
The deal signed with EGPC is expected to aid Rosneft in strengthening its position as a supplier of oil products and LPG in North Africa.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
