Egypt’s EGAS to Finalize Gas Tender This Month

Egypt’s EGAS to Finalize Gas Tender This Month

EGAS will finalize the decision on who receives the tender for the second floating liquefied natural gas (LNG) import terminal in a month’s time after receiving foreign bids, said EGAS chairman Khaled Abdul Badei in statements made to Al-Borsa newspaper.

We have put in place a compressed timetable for the tender award so that re-gasification is ready by August, to import about 500 mcf/d of gas as extra fuel for power plants, to be injected into the national gas grid once it is in a gas form again, he added.

EGAS called on nine international companies to participate in the tender put forward yesterday to lease the second floating terminal, which will be located in Port Ain Sokhna, for a 5 year contract period. He said that the port will receive about 42 shipments of liquefied gas per year, with each shipment being between 140 and 170 thousand cubic meters.

Abdul Badei went on to say that the first LNG terminal has reached the operational stage and next week will receive the third shipment; earmarked for Egypt’s summer power needs. He explained that the next six months will see the supply of gas on a weekly basis from the 90 LNG shipments that EGAS is contracted to supply.

EGAS had signed a contract with Sveinung Stoehle, CEO of Norway’s Hoegh, for the first LNG terminal.

Source: Al-Boursa


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