EGAS to charter floating storage and regasification unit from Hoegh LNG
September 30, 2014
Who was cited:
In May 2014, the Egyptian Gas Company (EGAS) signed a letter of intent (LOI) with Hoegh LNG to charter a floating storage and regasification unit (FSRU) starting in September, with the intent of importing LNG for a period of five years.
The FSRU could be used in the port of Ain Sokhna, located on the Red Sea's Gulf of Suez. However, the deal was never finalized due to the Egyptian government's weak financial position and consequent inability to underwrite both the construction of LNG import infrastructure and LNG imports.
Further information on FGE's East of Suez Gas Service can be found online by clicking on the link below.