Singapore-based BW confirmed it has been selected by EGAS of Egypt to provide LNG regasification services utilizing an FSRU in Ain Sokhna.
The company’s FSRU BW Singapore built at Samsung Heavy Industries in Korea will be used as Egypt’s second LNG import terminal, BW said in a statement on Tuesday.
BW Singapore will be delivered by end September in Ain Sokhna Port and ready for operations in October. It has a storage capacity in excess of 170,000 cbm and a peak regasification capacity of 750 mmscfd.
According to a report by Reuters, the five-year contract is worth about $300 million.
This will be Egypt’s second FSRU to be used an LNG import terminal as the Höegh Gallant commenced commercial operations in Ain Sokhna in April under a five-year contract with Egas.
Egypt, which turned from a net exporter to a net importer, signed several LNG supply deals with various players and it will import at least 90 cargoes during this year and 2016.
LNG World News Staff; Image: BW