Russia’s Rosneft, Egypt strike Energy Import Deal

Big 5

Egyptian Ministry of Oil and Russia oil producer Rosneft have signed Tuesday a deal for the supply of petroleum products and liquefied natural gas.

The ministry announced in a statement that Russia’s top oil producer will provide benzene and bitumen, 24 liquefied natural gas cargoes for two years beginning in the last quarter of 2015. These provisions will be given to state oil company Egyptian Gas Holding Company.

Rosneft also plans to supply Egypt with liquefied petroleum gas to enter into the larger North African market.

“The implementation of the terms of the signed document will allow Rosneft to access the high growth potential Egyptian gas market and deepen broader co-operation between the two companies,” the Russian state giant said Tuesday.

Source: The Oil & Gas Year