Report: EGAS launches third FSRU tender

Egyptian Natural Gas Holding Company has reportedly launched a tender on Tuesday to hire a third floating storage and regasification unit.

The vessel would have a sendout capacity of 750 million cubic feet of gas per day, Reuters reports citing sources.

Local sources reported Egypt’s minister of petroleum and mineral resources Tarek El-Molla as saying the third vessel will be based in Ain Sokhna, where the other two FSRUs are located.

El-Molla said in an earlier comment that LNG imports into Egypt currently stand at around 1.1 billion cubic feet per day. The addition of the third FSRU would up Egypt’s import to 1.95 billion cubic feet per day.

The tender is set to close in two weeks.

EGAS has not responded to an LNG World News email seeking confirmation of the reports, by the time this article was published.

Egypt has already deployed two FSRUs in Ain Sokhna that serve as the country’s import terminals, the Höegh Gallant FSRU, provided by Höegh LNG, which began operations in April last year, and the FSRU BW Singapore, provided by BW, which has been in full operation since October 2015.

With the recent gas discoveries and a total of 12 natural gas field developments underway with investment totaling US$33 billion Egypt could achieve self-sufficiency with regards to natural gas by 2022. At that point LNG imports into Egypt would stop.

Eni of Italy and the UK-based BP have recently revealed plans to expedite the development of their recent gas discoveries off Egypt. The Zohr gas field discovered by Eni in the Mediterranean during 2015, will bring 4.6 billion cubic feet of gas online by 2019 by itself.

LNG World News Staff