(AFP Photo)
By: Muhammad Adel
Egypt has requested the Qatari government be its guarantor for 13 out of 18 shipments of liquefied natural gas from Qatargas, according to Taher Abdel Rahim, vice president of Egyptian gas holding company, Egas.
The transport and logistics of the shipments are currently under discussion between the two countries.
Abdel Rahim stated that Egypt and Qatar had previously agreed to sell each gas shipment at a rate of $13 per million BTUs.
The Egas VP stated that Qatargas officials requested the shipments be paid for within five months of having been received, while Egypt demanded that the country’s grace period be extended to nine months.
Egypt recently received five shipments of gas, each totalling 16.5 billion cubic feet, as a gift from the Qatari government to meet Egyptian electrical stations’ trade quotas, as stated in agreements signed by the Ministry of Petroleum, Egyptian companies, and Qatari company Petronas. This is in addition to paying back the value of shipments previously obtained by Egypt from the company Gaz de France.
A source within Egypt’s Petroleum Ministry stated that the five shipments of gas given to Egypt by Qatar as a gift were provided in order to meet the required quotas of foreign companies who export energy products to Egyptian electrical stations.
He stated that Egypt would divert three shipments of gas received from Gaz de France to Europe while two others received from British gas company BG Group and Petronas would be sent to Southeast Asia.
Translated from AlBorsa Newspaper
