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Cairo saw a flurry of activity in the final days of 2014 as Egypt moved to address a number of issues regarding its current energy crisis. Egypt’s Ministry of Petroleum and Mineral Resources’ first move was to sign a contract to receive six LNG shipments, totalling 750,000 m³ from Algeria between April and September this year.
The start of shipments will coincide with the planned April arrival of Norwegian firm Höegh’s 550mn cfd Höegh Gallant floating storage and regasification unit (FSRU). The vessel has been leased to Egypt Natural Gas Holding Company (EGAS) for five years from Q2 2015 under a deal signed in November (MEES, 7 November, 2014). (CONTINUED - 621 WORDS)