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Market Chatter: Egypt Said in Discussions with Shell, TotalEnergies, BP for Potential LNG Import Deals

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Egypt is said to be in discussions with Shell (SHEL.L, SHELL.AS), TotalEnergies (TTE.PA, TTE.L) and BP (BP.L) for potential liquefied natural gas supply deals of up to five years, Reuters reported Tuesday.

Amid rising energy costs due to the US-Iran war, unnamed sources told the news outlet that the country is looking to purchase 15 to 18 cargoes of LNG monthly for at least a three-year term.

Reuters estimates Egypt's new import deals to be worth $8 billion to $11 billion.

Shell, TotalEnergies and BP did not immediately respond to' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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