Middle East & Africa: Trade
Egypt’s proposed third FSRU is experiencing delays as the country faces currency issues and the government remains positive about a recovery in domestic output.
Egypt is set to become the biggest LNG importer in the MEA in 2016 through its two FSRUs at Ain Sokhna. The country imported 6.5 mt in the first 11 months of 2016 compared with 2.2 mt during the same period in 2015. Nevertheless, the country’s LNG import capacity is underutilised, prompting the government to defer the installation of a third vessel. Egypt’s combined regasification capacity is 35.5 MMcm/d, but the country imported an average of 29.2 MMcm/d of gas as LNG during the summer (June-August).