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Wednesday, 30 May 2018

Rosneft looking to get in on deregulated natural gas market by selling gas to industrial customers

Rosneft looking to get in on deregulated natural gas market by selling gas to industrial customers: Russia’s Rosneft signed an MoU with Dubai-based Fleet Energy earlier last week to potentially import and sell gas in Egypt to industrial consumers, the company said in a press release. The agreement will see both parties “explore the possibilities of establishing a joint venture in order to develop a supply chain for further gas supplies to industrial consumers in Egypt.” Fleet Energy was notably one of the three energy companies which reportedly received preliminary approvals from EGAS for a license to import gas (the other two being BB Energy, and Qalaa Holding’s TAQA Arabia) back in August 2017. The final sign-off had reportedly been awaiting the Natural Gas Act, which deregulates the market, to be implemented.

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