Rosneft Group unit Rosneft Trading SA and Egyptian Natural Gas Holding Co. (Egas) have signed a master LNG supply and purchase agreement.
The document was signed by Rosneft Chairman Igor Sechin and Egas Chairman Khaled Abdelbadie during the visit of Egypt’s President Hussein Abdel Fattah Saeed Khalil al-Sisi’s to Russia.
According to the document, the parties plan to organize the supply of LNG to Egypt. No other specifics were reported.
Cooperation with Egas marks Rosneft’s entry into the world LNG trading market. Also, implementation of the provisions of the signed documents will, in the long term, open access for Rosneft to Egypt’s gas market.