Egypt to End FSRU Contract Mid-September

Egypt to End FSRU Contract Mid-September

Egypt will dispense with one of two rented Norwegian Höegh Gallant floating storage and regasification units (FSRU) in mid-September 2018 due to adding new wells to production, a source at the Egyptian Natural Gas Holding Company (EGAS) told Al Borsa.

The source explained that the FSRU’s rental contract is about to end, and that an agreement was reached with the Norwegian company not to renew it.

Egypt’s natural gas production will increase to reach 6.75 billion cubic feet per day (bcf/d) mid-September, compared to the current 6 bcf/d output, the source pointed out.

The second FSRU will be used in case Egypt needs to import liquefied natural gas (LNG), or alternatively can be converted into a liquefaction plant.

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Sarah Samir 3651 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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