Egypt, Jordan eye purchasing LNG floating regasification unit
Updated 7/28/2024 9:30:00 AM
Arab Finance: The Egyptian government, in partnership with the Jordanian government, is considering contracting with an international firm to manufacture a floating storage regasification unit (FSRU) for liquified natural gas (LNG), two sources in the know told Asharq Business.
The FSRU is set to re-gasify imported LNG shipments before re-pumping them into the national gas grid, one source noted.
The aim of purchasing the FSRU is to be solely owned by Egypt or jointly owned by Egypt and Jordan, depending on the outcome of the negotiations, the other source said.
Purchasing the FSRU intends to fill in the gap between the local production and consumption rates in Egypt and Jordan, the sources noted.
They also added that if natural gas production in both countries stabilizes, the ship might be rented to other nations.
It is worth noting that the Egypt’s daily natural gas production has reached 4.6 billion cubic feet, the lowest in years, according to data by the Joint Organizations Data Initiative (JODI).
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