Höegh LNG Secures Deal to Deploy FSRU in Egypt

Egyptian Natural Gas Holding Company (EGAS) has signed a 20-month agreement with energy infrastructure firms Höegh LNG and Australian Industrial Energy (AIE) to deploy a Floating Storage and Regasification unit (FSRU) in Ain Sokhna, Egypt.

Höegh LNG will provide its FSRU unit, Hoegh Galleon, for use in Egypt from June 2024 to February 2025. Afterward, the unit will be deployed to Port Kembla in Australia under a 15-year contract with AIE.Top of Form

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“Together with AIE and EGAS, we are pleased to provide Egypt with flexible infrastructure in support of energy security,” said Erik Nyheim, President & CEO of Höegh LNG.

The rollout of the 170,000 cubic meter FSRU unit comes after Egypt suspended LNG exports in May 2024 and plans to increase imports by at least one shipment per month until August 2024 to meet growing energy demand.