Rosneft and EGAS Signed Master LNG Supply and Purchase Agreement
Rosneft Trading SA, a company of Rosneft Group, and the Egyptian Natural Gas Holding Company (EGAS) signed a Master LNG Supply and Purchase Agreement. The document was signed by the Chairman of Rosneft Management Board Igor Sechin and the Chairman of EGAS Eng. Khaled Abdelbadie during the visit of the President of the Arab Republic of Egypt Hussein Abdel Fattah Saeed Khalil al-Sisi to Russia.
In accordance with this document, the parties plan to organize the supply of LNG to the Arab Republic of Egypt.
Cooperation with EGAS marks Rosneft Group'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 Group to the Egyptian gas market which has a significant growth potential.
Notes for Editors:
The state-owned Egyptian Natural Gas Holding Company is in charge of strategic development of Egypt's gas sector.
Egypt is an absolute leader in gas consumption among African countries (at present, Egypt is actively importing gas to meet domestic needs).
Rosneft Information Division
August 27, 2015