VOL. XLIII

No. 31

30-July-2000

EGYPT

Egyptian Cabinet Approves LNG Agreement With Spains Union Fenosa

The Egyptian Council of Ministers on 25 July approved an agreement between the Egyptian General Petroleum Corporation (EGPC) and Spains electricity company Union Fenosa for the annual supply of 4bn cu ms (BCM) of natural gas, about 25% of Spains current annual consumption. A letter of intent was earlier signed on 14 June (MEES, 19 June) and, while the two sides have still a long way to go before...