Norwegian FSRU player Hoegh LNG confirmed it has signed a deal with Australian Industrial Energy (AIE) and Egypt’s EGAS to deploy the 2019-built FSRU Hoegh Galleon to Egypt.
Hoegh LNG said on Thursday that the FSRU with a regas capacity of 384 mmscf/d will be located in Ain Sokhna, Egypt for a “likely period of 19-20 months”.
The agreement with EGAS is for an interim period of June 2024 to February 2026, and the aim of the deployment is to support energy security in Egypt, it said.
After that, the 170,000-cbm FSRU is expected to be deployed to AIE’s LNG terminal currently under construction at Port Kembla, in New South Wales, Hoegh LNG said.
The firm did not provide further details of the agreement.
LNG Prime reported on April 23, citing a report by Wood Mackenzie, that EGAS has chartered the FSRU to deploy it in the Ain Sokhna port and address potential gas shortages in its domestic market.
HoeghLNG said in November last year that Hoegh Galleon has started its long-term charter with Squadron Energy’s AIE.
Squadron Energy’s latest update said that the terminal is more than 90 percent completed and the “timing of the FSRU’s arrival remains on track for 2026.”
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
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