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Egypt launches record LNG tender

Staff Writer |
Egypt launched the world's biggest tender for liquefied natural gas (LNG) as officials from top energy companies and trading houses converged on Cairo undeterred by new rules forcing them to wait even longer to get paid.

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After months of speculation and delay, state-run Egypt Natural Gas Holding (EGAS) released tender documents on Sunday bidding to secure 96 LNG shipments in 2017 and 2018, participants in the tender told Reuters.

An additional 12 optional cargoes were included in the tender, which EGAS may decide not to award, they said.

It is the biggest mid-term LNG buy tender ever issued, trade sources said

Egypt, a major importer of commodities from wheat to diesel, helped buoy global gas markets last year after emerging as the fastest-growing new LNG consumer.

Once an LNG exporter, Egypt turned into a net gas importer just as global spot prices plunged.

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