Egypt’s EGAS: Citadel Capital, Shell Seen Arch-Rivals For LNG Import Tender

Eng. Khaled Abdul-Badie – the vice chairman of the state-run Egyptian Natural Gas Holding Company (EGAS) – said on Tuesday the results of the bid to import Liquefied Natural Gas (LNG) are not disclosed yet, noting that the winning companies will be announced very soon. This comes after EGAS has reviewed all the offers submitted by multiple companies to import the LNG.

EGAS’s tender is targeting the import of 1 billion cubic feet per day of natural gas, in order to keep power stations running in Egypt. EGAS has issued a tender to satisfy the Local Market demand for natural gas and minimize the use of liquid fuels (Gas oil, Fuel oil and LPG).

Meanwhile, the vice chairman further stated that only two firms, Citadel Capital (CCAP.CA) – the leading investment company in Africa and the Middle East with US$ 9.5 billion in investments under control; and Royal Dutch Shell Plc will likely be competing for winning the EGAS’s tender to import the LNG for Egypt.