Egypt Floats Tender for Second FSRU

Egypt has issued a five-year tender to lease a second LNG import terminal, the head of the state gas board told news agency Reuters on Monday.

"We launched yesterday a tender to lease a second LNG import terminal for a period of five years. We have sent it to eight international companies and we expect to get a reply within a week," Khaled Abdel Badie told the news agency in a telephone interview.

Late last month, Hoegh Gallant floating storage and regasification unit (FSRU) from Norway's Hoegh LNG commenced commercial operations. The FSRU arrived in Egypt on the Gulf of Suez in early April. In November last year, Hoegh LNG finalised a five year deal with EGAS to supply FSRU by the end of first quarter of 2015.

Höegh LNG had signed a Letter of Intent (LOI) with EGAS in May last year for the use of one of its FSRU as an LNG import terminal in the port of Ain Sokhna, located on the Red Sea's Gulf of Suez. The FSRU was scheduled to start operations in the third quarter of 2014 but was delayed.