Cairo moved this week to lock-in its gas needs for 2017 by signing a deal to take up to 45 LNG cargoes from Russian state oil giant Rosneft, France’s Engie and Oman state refiner Orpic’s commercial arm OTI, in a deal worth $1bn according to Oil Minister Tariq al-Mulla. This adds to the 12-month, 60-cargo deal signed in November last year with trading firms Glencore, Trafigura, BB, Gunvor and Vitol (MEES, 2 December 2016).

Mr Mulla said last June that Egypt was looking to import...