BP Egypt said that one of its LNG shipments to Egypt was held back this month as part of a deal over the timing of deliveries, and the petroleum ministry dismissed reports that it was linked to payment problems. LNG tanker British Sapphire was diverted to Brazil rather than discharging in Egypt earlier this month, and traders had said the diversion was related to payment delays at state gas board EGAS. EGAS also denied the reports. "BP has been awarded an LNG supply contract to Egypt to supply cargoes from mid-2015. Six cargoes have been successfully delivered and BP has either received payment in full or received agreed collateral from EGAS for all 6 cargoes," BP Egypt told Reuters in a statement. "The seventh cargo was postponed to the third quarter of 2016 based on a mutual decision between EGAS and BP to manage supply for peak summer demand," the statement added. BP said it remained committed to deliver LNG cargoes to EGAS "in accordance with the contractual arrangements in place". According to financial and trade sources, last month Egypt asked for 90 days to pay for LNG deliveries, up from the traditional 15, creating arrears currently estimated at USD400-500 million. (Reuters)