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FSRU Arrives for Egyptian LNG Imports

LNG

The Hoegh Galleon LNG FSRU arrived at Ain Sukhna in Egypt on 14 June after passing through the Suez Canal according to ICIS vessel tracking.

  • It will now connect up to Egypt's gas network to allow Egypt to directly import gas supplies as LNG rather than via Jordan like in recent months.
  • Egypt had previously let go of an FSRU having expected domestic output to increase enough to cover domestic demand.
  • Egypt’s EGAS has issued a tender to buy at least 17 cargoes of LNG to cover rising demand for power during the summer, according to Bloomberg sources last week.
  • The switch in Egypt from an exporter to an importer places greater pressure on available supplies for Europe. Egypt looks set to pull in the highest volumes of LNG since 2018.
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