Singapore’s BW Gas has clinched a deal to provide Egypt with an FLNG for five years, energy firm Egyptian Natural Gas Holding Company (EGAS) said yesterday. The contract is worth $60m a year, oil minister Sherif Ismail said. The FLNG will be in place by October.
This is Egypt’s second FLNG; Hoegh LNG delivered another one in April, allowing the country to start up LNG imports as it fights extreme power shortages.
Egypt agreed in April to import around $3.55bn worth of LNG in the 2015-2016 financial year, including 35 LNG cargoes from Gazprom over five years and six from Sonatrach.
The first cargo from Gazprom arrived on Sunday via the 154,880 cu m Yenisei River, a vessel owned by Dynagas.