Russia’s Rosneft ships first LNG ever to Egypt

MOSCOW, May 6 (PRIME) -- The first batch of liquefied natural gas (LNG) produced by Russian oil giant Rosneft, was sent to Egypt, which expects another four batches from the company soon, Rosneft said in a statement on Friday without disclosing the volume or weight of the batch.

Rosneft Trading SA, a unit of Rosneft, has shipped the LNG under a 2015 contract with Egyptian Natural Gas Holding Company (EGAS) by the Golar Ice tanker to the Egyptian port of Ain Sukhna.

Structural changes on the global LNG-trading market, which consists of rising volumes of spot deals, mean good prospects for the company’s trading arm. The combination of Rosneft group’s spot and long-term contracts will allow it to maximize economic efficiency of its deals whilst guaranteeing a stable LNG-marketing outlet, Rosneft said.

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