Egypt Awards $2.2 Billion LNG Tender

Egypt's state gas board has awarded a $2.2 billion tender to import 75 cargoes of liquefied natural gas (LNG) to four international firms, its chairman said on Sunday, as the country seeks new energy sources.

Declining production and increasing consumption has turned the Arab world's most populous country from an energy exporter to a net importer, prompting a flurry of activity in past months to boost foreign supplies.

The four companies will supply four cargoes a month over about two years, Khaled Abdel Badie of state-run Egyptian Natural Gas Holding Company (EGAS) told Reuters.

Abdel Badie did not identify the four companies. Seven firms, including London-based energy major BP, bid for the tender in October.