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Noble bags LNG delivery slots for Egypt's second floating import terminal

Tuesday, October 20, 2015 - 15:53
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Commodities trader Noble Group has clinched what it called a "significant number of slots" for mid-term delivery of liquefied natural gas (LNG) cargoes to Egypt's second floating LNG import terminal, it said in a press release on Tuesday.

COMMODITIES trader Noble Group has clinched what it called a "significant number of slots" for mid-term delivery of liquefied natural gas (LNG) cargoes to Egypt's second floating LNG import terminal, it said in a press release on Tuesday.

The slots were awarded by the state-owned Egyptian Natural Gas Holding Company and the terminal is due to start operations next month, Noble noted.

Gareth Griffiths, global head of power, gas and carbon trading, said in a statement that Egypt is "emerging as a key LNG market" and that Noble already has a successful track record in the country.

The group said it had delivered the first two LNG cargoes ever imported into Egypt and has further deliveries scheduled for this year and next year.

It has been regularly chartering LNG vessels on the spot market this year as its deliveries continue to grow, it said, adding that Noble's LNG unit has a portfolio of purchase and supply agreements "in place until the end of this decade".

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