Oil companies including Glencore have bagged the right to supply liquefied natural gas (LNG) cargoes to Egypt, as the country plans to import about 60 cargoes of liquefied natural gas (LNG) next year.

According to trading sources with knowledge of the results of Egypt's mega tender for 2017 and 2018, Glencore will be Egypt’s biggest supplier delivering around 25 LNG cargoes while Trafigura is assumed to have won the right to supply about 18 cargoes of the super-cooled fuel.

Other companies, winners of Egypt Natural Gas Holding's (EGAS) tender, include BB Energy, Gunvor and Vitol, the sources added. EGAS issued the import tender in late October, this year. The company required a total of 96 cargoes for delivery in 2017 and 2018, with an option to buy 12 more cargoes in 2017. The state-run energy company has most likely secured all of its 2017 supplies, and just six cargoes for 2018, the traders said.

Cargoes for January to March 2017 are assumed to have been granted at a slope of around 15 percent to crude, while the remaining cargoes for 2017 delivery are likely to have been priced at a slope of 12 percent and below, the trading sources told Reuters.

Under the terms of the tender, LNG suppliers possibly will have to wait as long as six months to get paid for deliveries to be received between January and June 2017. Afterwards payments will take 120 days compared with the 90 days that LNG shippers initially got paid after delivery.

Anita Fatunji