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    Egypt to Float LNG Import Tender in July

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Summary

Egyptian Natural Gas Holding Company (EGAS) is expected to float an international tender in July to import LNG needed for power generation, company’s chairman Khaled Abdel Badie told Daily News Egypt Tuesday.

by: shardul

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Egypt to Float LNG Import Tender in July

Egyptian Natural Gas Holding Company (EGAS) is expected to float an international tender in July to import LNG needed for power generation, company’s chairman Khaled Abdel Badie told Daily News Egypt Tuesday.

Baide added that EGAS will either issue a tender for the provision of gas for the next two years and offer a second one at the end of this period, or issue a tender for five years, in order to continue gas imports from 2015 onwards, says Daily News Egypt.

The imports would provide approximately 500 million cubic feet of gas per day for power plants starting from 2015, said Badie.

According to Daily News Egypt, the Ministry of Petroleum is also about to complete an agreement with Russia’s Gazprom to supply approximately 12 shipments of LNG.

Earlier this week, Höegh LNG signed a deal with Egyptian Natural Gas Holding Company (Egas) for the use of one of its Floating Storage and Regasification Units (FSRU) as an LNG import terminal in the port of Ain Sokhna, located on the Red Sea's Gulf of Suez.

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