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.

Egypt Oil & Gas Contribution Time: 06-Sep-2018 10:53 (GMT)
Egypt Oil & Gas Last Update Time: 06-Sep-2018 10:53 (GMT)