Kanfer, Egas, Leth Suez plan LNG bunkering hub in Egypt

Norway-based Kanfer Shipping in cooperation with Egas and Leth Suez Transit (LETH) will establish LNG bunkering services in Egypt, Kanfer said on July 21.

The three companies signed a memorandum of understanding in February this year with the purpose of establishing LNG bunkering services in Egypt Mediterranean, the Suez Canal and the Red Sea. The parties have agreed to collaborate and establish a joint venture that will be chartering a bunkering ship from Kanfer and managing its daily operation in Egypt. The joint venture will buy LNG from Egas.

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There are three sources for LNG in Egypt: Damietta, IDKU terminal and the FSRU stationed in Ain Sokhna. This gives flexibility and more opportunities for LNG bunkering in Port Said and Suez, Kanfer said.

“LETH and Kanfer are now primarily seeking joint venture partners that have experience with bunkering and commodity trading and can take an active part in creating a business model for this high potential and attractive project in Egypt,” the Norwegian company said. The parties plan to have the bunkering infrastructure in operation by 2025.