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Egypt moved forward with a much-delayed LNG import scheme this week, signing a loan deal for a floating import terminal on 3 November.
State-owned Egypt Natural Gas Holding Company (EGAS) and Norway’s Hoegh LNG agreed on a five year deal for the floating storage and regasification unit, which will be moored in the port of Ain Sukhna to allow imports to begin from late March.
The government had earlier this year hoped to begin LNG imports in September, but negotiations over a terminal have dragged on, and no deals for LNG cargos have been announced, casting doubt on the new timeline.
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