EGAS Plans LNG Imports

The state-owned Egyptian Natural Gas Holding Company (EGAS) has expressed its interest in importing LNG and will utilize one of the ports along the Mediterranean or Red Sea to establish a floating storage regasification unit (FSRU), the company said in a statement. Interested companies have to submit their request by November 22.

Given the infrastructure already available at several Egyptian ports, a source close to the tender has said the tie-back of an existing FSRU at an existing jetty to the nearby onshore gas grid by May 2013 would be achievable, ICIS said in a report.

"Technically, it is not a problem," the source said. "But the project would need to be awarded soon."

To meet the rising demand of a growing populace of 82.6m, the Egyptian petroleum ministry is said to be planning LNG imports of 500m cubic feet/day - up to 3.7m tonnes per annum - and has been in discussions at a state level with Algeria and Qatar.