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LNG: Egypt In Talks To Lease German LNG Unit

LNG
Energy BulletsBulletPower BulletsCommodities

Egypt in talks with Germany to lease LNG unit ahead of summer, Bloomberg reports.

  • The FSRU in question is currently at the Mukran terminal on the Baltic Sea, according to Egypt’s Oil Ministry, cited by Bloomberg.
  • An Egyptian delegation is set to visit Germany this month to finalise contract terms for the unit.
  • There are two FSRUs at Mukran currently, “Neptune”, which has 5bcm/y regasification capacity, and “Energos Power”, which has 7.5bcm/y capacity.
  • Deutsche ReGas, operator of German Baltic Sea LNG, terminated the charter contract for its “Energos Power” vessel in early February citing pricing issues.
  • Egypt has stepped up its procurement of gas supplies to stem shortages amidst rising electricity demand and declines in domestic gas output.
  • Egypt hopes to become a net exporter of gas once again by 2027, Bloomberg reports. 
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Egypt in talks with Germany to lease LNG unit ahead of summer, Bloomberg reports.

  • The FSRU in question is currently at the Mukran terminal on the Baltic Sea, according to Egypt’s Oil Ministry, cited by Bloomberg.
  • An Egyptian delegation is set to visit Germany this month to finalise contract terms for the unit.
  • There are two FSRUs at Mukran currently, “Neptune”, which has 5bcm/y regasification capacity, and “Energos Power”, which has 7.5bcm/y capacity.
  • Deutsche ReGas, operator of German Baltic Sea LNG, terminated the charter contract for its “Energos Power” vessel in early February citing pricing issues.
  • Egypt has stepped up its procurement of gas supplies to stem shortages amidst rising electricity demand and declines in domestic gas output.
  • Egypt hopes to become a net exporter of gas once again by 2027, Bloomberg reports.