Egypt

Hoegh LNG’s FSRU heads to Egypt

Published on : 2024-06-10

The 170,000-cbm FSRU Hoegh Galleon is on its way to Egypt to start serving EGAS in Ain Sokhna, according to shipping data.

The 2019-built unit with a regas capacity of 384 mmscf/d left the Sagunto LNG terminal in Spain during the weekend and is expected to arrive at Egypt’s Port Said, located at the northern end of the Suez Canal, on June 12, its AIS data shows.

Its final destination Ain Sokna is located some 43 kilometers south of the city of Suez.

Hoegh Galleon appears to be laden and it probably reloaded a cargo at the Sagunto terminal, in which Enagas holds a 72.5 percent stake, prior to heading to Egypt.

Norwegian FSRU player Hoegh LNG recently confirmed it had signed a deal with Australian Industrial Energy (AIE) and Egypt’s EGAS to deploy Hoegh Galleon to Egypt.

The agreement with EGAS is for an interim period of June 2024 to February 2026.

After that, the FSRU is expected to be deployed to AIE’s LNG terminal currently under construction at Port Kembla, in New South Wales, Hoegh LNG said.

Egypt imports LNG despite the fact that it hosts two LNG export facilities, namely the Eni-led Damietta LNG terminal and the Shell-led Idku plant.

The country began experiencing gas shortfalls in 2022 and LNG imports will help mitigate these shortfalls, especially during the summer period.

Egypt is reportedly seeking LNG cargoes to meet electricity needs during the summer months.

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