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Egypt launches tender for 96 LNG cargoes

  • Egypt launches tender for 96 LNG cargoes

    Report: Egypt launches tender for 96 LNG cargoesFSRU Höegh Gallant in Ain Sokhna (Image courtesy of Höegh LNG)

    Egypt has reportedly issued a new tender looking to secure the delivery of 96 cargoes of liquefied natural gas (LNG) in 2017-2018. 

    There is an additional 12 cargoes option included in the tender document, however, as sources told Reuters, Egypt Natural Gas Holding may not award the optional cargoes.

    It is claimed to be the largest mid-term tender ever issued, the report shows.

    The rules for the latest tender have been changed as the window in which Egypt has to pay for the delivered cargo has been extended from 90 to between 120 and 180 days.

    Late last year, Egypt was reported to have issues with LNG payments, seeking the extension of payment period from 15 to 90 days.

    Payments under the 90-day terms began in January this year, and the latest tender shows that the payment terms have again been amended.

      October 25, 2016 1:53 PM EEST
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