Egypt Likely to Get Imported LNG in December

Egypt will get the first shipment of imported LNG that it recently contracted by December, Egypt Independent newspaper reported Tuesday quoting a petroleum ministry official.

The official confirmed to the newspaper that the government also agreed on seven shipments from Gazprom and five shipments from the Algeria’s Sonatrach, adding that the petroleum ministry will soon announce the winning company that is converting the gas from liquefied to natural gas to pump it into the national grid.

Gas production in Egypt has been declining over the years amid steadily rising demand. Many new gas projects in the country have been stalled as the government has found it difficult to pay foreign companies.

Egypt has been looking to source gas from various sources. 

In May, Höegh LNG (HLNG) signed a Letter of Intent (LOI) with EGAS for the use of one of its Floating Storage and Regasification Units (FSRUs) under construction at Hyundai Heavy Industries as an LNG import terminal in the port of Ain Sokhna, located on the Red Sea's Gulf of Suez.