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Under a five-year sales and purchase agreement (SPA) with Segas, each of Altco and BGGM has been lifting 725,000 t/y of LNG from Damietta since early March 2005.
Until then, each of Altco and BGGM had been taking 725,000 t/y of LNG from Damietta for spot sales to Lake Charles, South Korea and other destinations.
As a result of these agreements, Altco and BGGM have been committed to lift 22 cargoes of 138,000 CM of LNG between 2005 and end-2008.
Until then, each of Altco and BGGM has been taking 725,000 t/y of LNG from Damietta for spot sales to Lake Charles, South Korea and other destinations.
The US glut has compelled BGGM to shift LNG volumes from the US to other markets, with some cargoes sent to Latin America.
BGGM has been the most active player on the spot market for LNG west of Suez.
BGGM is using this terminal to market its LNG in the US from Trinidad and Egypt.
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