Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi witnessed the arrival of the Energos Power ship from Germany to the Tahya Misr terminal in Alexandria Seaport, as per a statement.

The vessel, owned by the US-based company New Fortress Energy Inc., is set to receive imported liquefied natural gas (LNG) and convert it to a gaseous state, in preparation for pumping it into the national gas grid (regasification unit).

Witnessing the vessel's arrival, Badawi was accompanied by leaders from the ministry and the Egyptian Natural Gas Holding Company (EGAS).

He emphasized that this step aligns with the ministry’s plan to secure the needed natural gas supplies for power plants during the summer. This falls within the government’s integrated plan to ensure the stability of the electricity grid.

Badawi pointed out that the vessel, the second of its kind, is a result of discussions held with the German government to mull leasing the vessel to operate in Egypt.

He also affirmed the ministry’s commitment to supporting the infrastructure capabilities for receiving imported LNG. The system was backed by a second regasification unit, in addition to the vessel currently stationed at Sumed Port in Ain Sokhna, he added.

Through EGAS, the ministry contracted to lease two additional vessels, bringing the total number of vessels to four. This will contribute to enhancing the efficiency and flexibility of the natural gas supply system to the local market and its ability to meet growing demand, especially during summer.

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