Egypt in talks to rent regasification unit from Norway’s BW Energy

Updated 4/15/2024 8:50:00 AM
Egypt in talks to rent regasification unit from Norway’s BW Energy

Arab Finance: The Egyptian Ministry of Petroleum and Mineral Resources is currently in negotiation to rent a floating regasification unit in Ain Sokhna Port from Norway’s BW Energy for five years, one source told Al Borsa News.

The source noted that the ministry has contracted on two shipments of natural gas from the Dutch energy firms Vitol and Trafigura, expected for arrival in May.

Moreover, the ministry has requested additional 15 natural gas shipments set for arrival as of July to reduce the duration of daily power cuts in the summer from four to two hours, the source added.

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