This will contribute to securing the additional needs of local consumption during the summer months
The Egyptian Natural Gas Holding Company (EGAS) announced a contract with the Norwegian company Höegh LNG Holdings to deploy the Floating Storage and Regasification Unit (FSRU) Hoegh Galleon. This will contribute to securing the additional needs of local consumption during the summer months.
The deployment aims to support energy security in Egypt. Hoegh Galleon will likely be located in Ain Sokhna, Egypt for a duration of 19 to 20 months, according to the Norwegian company’s statement. The company also stated that after which it is expected to be deployed to AIE’s LNG terminal currently under construction at Port Kembla, Australia.
"Together with AIE and EGAS, we are pleased to provide Egypt with flexible infrastructure in support of energy security. Höegh LNG is the industry leader in the rapid deployment of FSRUs, and we are pleased that we can provide this solution for EGAS together with AIE while continuing to develop our strong partnership,” said Erik Nyheim, President & CEO of Höegh LNG.
The government is expected to pay $90 million annually for the unit, according to an unnamed official cited by CNN Business Arabic.
