Geneva-headquartered energy and commodity trading company BGN has recorded two events it deems important in the liquefied natural gas (LNG) segment – a cargo delivery in Germany and a supply contract in Egypt.
As for the achievement in Germany, the company offloaded its inaugural physical LNG cargo at Germany’s Mukran LNG terminal using its chartered vessel Celsius Gandhinagar .
The 2024-built LNG carrier has a capacity of 180,000 cubic meters (cbm) and was constructed at the Samsung Heavy Industry yard.
BGN says the milestone, known in the industry as “touching the ice” since it occurs at -160°C, marks its official entry into the physical LNG market and signals a new era in the company’s global energy portfolio.
Deutsche ReGas, which operates Mukran LNG, recently reported a record quarterly performance for the terminal. This was also said to be the highest-performing LNG terminal in Germany for the period.
Regarding the second milestone, together with what it says are leading global energy companies, BGN was selected as one of the suppliers in Egypt’s LNG procurement program, dubbed historic by the Geneva player.
While no additional details were disclosed, the initiative is said to be crucial to supporting Egypt’s energy security by enabling it to meet the rising domestic demand and increasing power needs.
It follows the country’s efforts to ramp up energy security by chartering several floating storage and regasification units (FSRUs), the second of which was welcomed in May .
In addition to LNG, Egypt has been busy with other oil and gas developments lately. One of these was the completion of drilling operations at the Zohr 6 well by Eni, which added approximately 60 million cubic feet per day of natural gas to the current production rates. The Saipem 10000 drillship was used to get the job done.