Egypt in talks with Norway’s Hoegh LNG for regasification unit rental
Updated 4/24/2024 7:24:00 AM
Arab Finance: Egypt is currently in negotiation with Norway’s Höegh LNG to rent a regasification unit, an official at the Ministry of Petroleum and Mineral Resources told CNN Arabic.
The unit is set for arrival by summer, the official said.
It was reported on April 14th that the ministry is in talks to rent a floating regasification unit in Ain Sokhna Port from Norway’s BW Energy for five years.
On a different note, a source told CNN Arabic that Israel plans to increase natural gas exports to Egypt by about 300 million cubic feet daily during the second half (H2) of 2025 to reach 1.5 billion cubic feet a day.
The source noted that the current Israeli natural gas exports to Egypt range between 1.15 and 1.2 billion cubic feet a day.
On April 22nd, it was reported that Egypt’s imports of Israeli natural gas are set to decline by 22% to 900 million cubic feet a day in summer, starting next June until September.
As of May, Egypt is set to suspend exports of liquefied natural gas (LNG) to meet the demands of power plants.
On April 8th, it was reported that the Egyptian Natural Gas Holding Company (EGAS) seeks to import at least one shipment of LNG a month until July or August.
It was also reported on April 4th that EGAS bought at least one shipment of LNG for delivery in May.
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