Egypt has chosen the new LNG suppliers

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Egyptian officials announced that they had chosen three companies to supply liquefied natural gas to its markets for the remainder of 2016, Reuters reports.

All the three natural gas suppliers are of European origin. Glencore, an Anglo-Swiss commodities trading house, will supply Egypt with natural gas in October; Dutch Trafigura – the third-largest oil and metals trader in the world – will deliver a shipment for November; and a relatively new player in the LNG trade U.K.-based B.B. Energy is chosen for December supplies.

The state-run Egyptian Holding Company for Natural Gas (EGAS) has announced that it is going to spend US$2.2 billion for the LNG import to fill the gap between energy supply and demand in the 2015-2016 fiscal year.

Earlier this month Egypt’s officials announced they are going to start privatization of the state-owned oil companies in the nearest future. The country’s government is planning to raise US$10 billion from listings in three to five years.