Egypt’s Hoegh Galleon FSRU Receives First LNG Cargo

Egypt’s Hoegh Galleon FSRU has received its first LNG cargo since arriving at the Ain Sukhna import terminal in the Gulf of Suez in June, Platts said.

• The Hellas Athina loaded 72k mt of LNG from Freeport, Texas under charter from Trafigura and unloaded the cargo after passing the Suez Canal.
• This is the second direct LNG import after the first 70k mt cargo came directly aboard the Hoegh Galleon when it arrived June 13.
• Egypt was long an exporter of LNG, but hasn’t shipped any cargoes since May, amid declining domestic gas production.
• It has exported 570k mt of LNG so far in 2024, compared to 2.82m mt over the same period in 2023.
• Egypt recently bought 20 cargoes through Q3 at a premium to the TTF gas hub.