Hoegh LNG Finalises FSRU Contact With Egypt's EGAS

Norway’s Hoegh LNG on Monday finalised a five year deal with Egyptian Natural Gas Holding Company (EGAS) to supply FSRU by the end of first quarter of 2015.

The FSRU Höegh Gallant is expected to be delivered from the yard later this week, the Norwegian firm said.

"This project clearly demonstrates the advantage of FSRUs as the fast-track solution for LNG imports to any market and we look forward to a long term relationship with EGAS,” President and Chief Executive Officer Sveinung J.S. Støhle said.

In May this year, Höegh LNG signed a Letter of Intent (LOI) with EGAS 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.