Egypt’s EGAS, signs 10-year FSRU charter

Egypt’s state-owned Egyptian Natural Gas Holding Company (EGAS) has signed a 10-year charter agreement with Norwegian marine energy infrastructure company Höegh Evi for the deployment of the Hoegh Gandria as a floating storage and regasification unit (FSRU) at the Port of Sumed by the fourth quarter of 2026.

The FSRU will provide up to 1,000 million standard cubic feet per day of peak LNG regasification capacity, strengthening Egypt’s ability to serve as a regional energy hub through flexible and diversified infrastructure.

To meet the timeline, Höegh Evi will immediately begin converting the Hoegh Gandria, an LNG carrier purchased in February 2023, into a high-capacity FSRU. The project supports the company’s strategy to maximise the adaptability and performance of its marine infrastructure assets.

Furthermore, the Hoegh Gandria will replace the Hoegh Galleon, which has been operating in Egypt since July 2024 under an interim charter from AIE and Höegh Evi. The Galleon will remain in service in Egypt for up to another year before being redeployed to Australia’s Port Kembla LNG terminal in 2027.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama