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LNG: Egypt Signed Deal for Third FSRU: Kpler

LNG
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Egypt has signed a deal to deploy a third floating storage and regasification unit at Egypt’s Ain Sukhna port to cover LNG demand in June-November, according to Kpler.

  • An agreement has been signed to deploy one of Turkey’s operational FSRUs according to Kpler sources.
  • The 170,000 m³ Ertugrul Gazi FSRU currently operating at the Dortyol LNG terminal is the most likely option.
  • A short-term charter in of 180,000 m³ Vasant-1 at the Saros LNG terminal is another possibility after significant underutilisation over the past year.
  • Egypt currently imports LNG via the 170,000 m³ Hoegh Galleon FSRU at the Sumed port in Ain Sukhna, and the 160,000 m³ Energos Eskimo is set to arrive in June.
  • Egypt has switched from an LNG exporter to an importer due to declining domestic gas production and rising cooling demand.
  • Egypt has already imported 8 cargoes in 2025 so far, despite the traditional demand lull in winter, Platts said this week. A forecast for Egypt’s 2025 LNG imports will raise to at least 4.2m mt following deals with Shell and Total to secure 60 cargoes while still seeking more spot cargoes.
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Egypt has signed a deal to deploy a third floating storage and regasification unit at Egypt’s Ain Sukhna port to cover LNG demand in June-November, according to Kpler.

  • An agreement has been signed to deploy one of Turkey’s operational FSRUs according to Kpler sources.
  • The 170,000 m³ Ertugrul Gazi FSRU currently operating at the Dortyol LNG terminal is the most likely option.
  • A short-term charter in of 180,000 m³ Vasant-1 at the Saros LNG terminal is another possibility after significant underutilisation over the past year.
  • Egypt currently imports LNG via the 170,000 m³ Hoegh Galleon FSRU at the Sumed port in Ain Sukhna, and the 160,000 m³ Energos Eskimo is set to arrive in June.
  • Egypt has switched from an LNG exporter to an importer due to declining domestic gas production and rising cooling demand.
  • Egypt has already imported 8 cargoes in 2025 so far, despite the traditional demand lull in winter, Platts said this week. A forecast for Egypt’s 2025 LNG imports will raise to at least 4.2m mt following deals with Shell and Total to secure 60 cargoes while still seeking more spot cargoes.