Egypt has been negotiating with Russia for the procurement of the advanced MiG-29 fighter-jet, according to recent news reports.

Russian industry sources told reporters that Egypt has examined the MiG-29SMT fighter. The sources said SMT, an upgraded version of the MiG-29, has been offered at a sharply reduced price as part of a Russian effort to restore Cairo as a military client.

Moscow is offering offsets that would make this deal extremely attractive to Egypt, an industry source was reported to have said.

The sources said Russia s state-owned arms export agency Rosoboronexport has been negotiating with Egypt since 2006. They said Rosoboronexport has offered to provide the MiG-29SMT as part of a larger Russian program to develop Egypt s natural gas reserves and build nuclear energy facilities.