Egypt Launches Tender for Third Floating Regasification Unit

Reuters

CAIRO, June 29 (Reuters) – Egypt has launched a tender to hire a third floating and storage regasification unit (FSRU) to import liquefied natural gas (LNG), an official from state-run energy firm EGAS told Reuters.

Egypt, a former energy exporter but now net importer due to falling production and rising consumption, began LNG imports last year to help avert blackouts on its overworked power grid.

The official said the tender was launched on Tuesday seeking an FSRU with a capacity of 750 million cubic feet per day and would close in two weeks.

Egypt's gas shortfall has led to rationing among energy-intensive industries such as steel mills and fertiliser plants and caused some output disruption last year.

Egypt took delivery of its first FSRU from Norway's Hoegh in April 2015 and a second from Singapore-based Norwegian firm BW Gas last September.

(Reporting by Ehab Farouk; writing by Lin Noueihed; editing by Jason Neely)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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