Shell (SHEL), Saudi Aramco, and Azerbaijan's Socar have signed LNG supply agreements with state-run Egyptian Natural Gas Holding, media reports said Thursday, citing industry sources.
Egypt also signed LNG import deals lasting 2.5 years with suppliers including BGN, Trafigura, and Vitol as domestic production declines, Bloomberg reported.
The companies will reportedly deliver up to 290 LNG cargoes over the multi-year period, starting next month, marking a shift from Egypt's previous status as an exporter.
Prices are said to be $0.80 to $0.95 above the European benchmark, with deferred payment terms of up to 180 days, according to Bloomberg.
Shell, BGN, Socar, Saudi Aramco, Trafigura, Vitol and Egyptian Natural Gas did not immediately respond to requests for comment from MT Newswires.
Price: 71.39, Change: +0.37, Percent Change: +0.51
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