Egypt’s state-owned gas group Egyptian Natural Gas Holding Company (EGAS) has signed a regasification service agreement with the US energy company New Fortress Energy (NFE) to lease a second floating storage and regasification unit (FSRU). The unit will receive, store, regasify, and deliver LNG to Egypt’s national gas grid. The new unit will have a storage capacity of 160,000 cm of LNG and a regasification capacity of up to 750 mcf/d (7.7 bcm/year). It will be moored at the Sumed Port in Ain Sokhna, and operations are expected to begin in the second half of 2025.
In May 2024, EGAS had also signed an agreement Höegh LNG for the deployment in Egypt of another FSRU (4 bcm/year), to be moored in Egypt between June 2024 and February 2026.
In 2023, natural gas accounted for 52% of Egypt's primary energy consumption and for 67% of its power mix. In the same year, Egypt exported 4.1 bcm of gas and imported 8.9 bcm.
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