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Egypt to rent third FSRU

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LNG Industry,

According to Reuters, Egypt is aiming to rent a third floating storage and regasification unit (FSRU) by either late 2016 or early 2017. This comes as part of its plan to mitigate energy shortages, and follows two other rentals earlier in 2015. Egypt had its first FSRU delivered in April 2015 from Höegh, beginning the nation’s LNG imports. BW Gas delivered the second FSRU in September. Recently, a shortfall of gas in Egypt has resulted in rationing for major energy consumers, such as steel and fertiliser plants.

Reuters reports that Khaled Abdel Badie – the head of the state operated Egypt Natural Gas Holding Co. (EGAS) – said that this third FSRU will be used to increase the generation of electricity, and to meet the natural gas needs of heavy industry.

Edited from various sources by David Rowlands

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