Qatar + China just agreed one of the biggest LNG deals in history
Qatar + China just agreed one of the biggest LNG deals in history: Qatar agreed a long-term LNG supply agreement with China worth USD 60 bn, Bloomberg reports. Announced by the companies yesterday, the pact will see Qatar Energy ship 4 mn tons of LNG every year to China’s Sinopec for 27 years starting 2026. This is one of the world’s largest LNG deal ever, and is both China’s longest supply agreement and its biggest by volume, according to the business news outlet.
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THE CLOSING BELL-
The EGX30 fell 0.6% at yesterday’s close on turnover of EGP 1.76 bn (32.5% above the 90-day average). Local investors were net buyers. The index is up 4.2% YTD.
In the green: Orascom Construction (+3.5%), Abu Qir Fertilizers (+3.2%) and Telecom Egypt (+2.1%).
In the red: Eastern Company (-7.5%), Rameda Pharma (-3.6%) and CIRA (-3.3%).