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Noble Energy to supply Egypt with seven LNG cargoes

Feb. 17, 2015 8:39 AM ETChevron Corporation (CVX) StockCVXBy: Carl Surran, SA News Editor
  • Noble Energy (NYSE:NBL) agrees to supply Egypt with seven liquefied natural gas cargoes under a two-year deal that begins in April.
  • Once a gas exporter, Egypt is undergoing its worst energy crisis in decades, with rising consumption and declining production turning it into an energy importer.
  • Egypt recently signed a deal with Algeria's state-owned Sonatrach to import six LNG shipments during 2015, and expects to complete an agreement with Russia’s Gazprom to import another seven LNG shipments.

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