(Ecofin Agency) - Egyptian Natural Gas Holding Company (EGAS) on Friday revealed that in December 2015, it suspended a liquefied natural gas (LNG) delivery from BP till later this year, Reuters reports.

BP’s LNG carrier, British Sapphire, was diverted to Brazil instead of discharging in Egypt due to payment issues, traders said.

“This is completely untrue”, EGAS Chairman Khaled Abdel Badie (photo) said.

He added that deliveries were suspended till Egypt's highest energy consumption period in August 2016. Badie noted that the country is planning to lease a third floating storage and regasification unit (FSRU) in Q1 of 2016.

Following the inauguration of two floating import terminals in 2015, Egypt became a key market for LNG shippers. Its suppliers include Shell, Gas Natural, Trafigura, Vitol, EDF Trading, PetroChina and Noble Group.

The country has been making efforts to pay for oil products and LNG due to an acute foreign currency crisis worsened by a fall in tourism. In December, it had requested for an extension of from 15 to 90 days to pay for LNG deliveries, thereby making its debts to be estimated at $400-$500 million.

Anita Fatunji