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Project Insights

Egypt has yet to reveal its LNG strategy

Egypt’s plans for a third FSRU are facing delays because the country is struggling to pay for its LNG supplies Egypt’s plans for a third FSRU are facing delays because the country is struggling to pay for its LNG supplies.
By Rachel Williamson 1 March 2016 Middle East & Africa / LNG 0 19423
The Höegh Gallant FSRU, which is moored at Ain Sokhna. Egypt is yet to charter a third regas vessel. (Höegh)

Egypt has yet to issue a tender for its third LNG terminal following allegations of missed payments for contracted cargoes and delays in paying debts to gas producers.

A source at Egyptian Natural Gas Co. (EGAS) told Natural Gas Daily the tender for a third terminal had not yet been issued.

The country’s third FSRU was scheduled to be in place by the end of 2016 and be ready for use in 2017, largely to provide gas for the growing power generation sector, as well as industrial...