Egypt plans second LNG import terminal

Egypt plans second LNG import terminal

Egypt could be on its way to recovery from the energy crisis as the country prepares to issue a tender for a second LNG import terminal in the coming weeks.

The last few years have seen the country turn from a net exporter to a net importer due to high domestic consumption and unpaid debts that have hindered foreign investment.

As Reuters informs, the country has begun repaying its debt in an effort to lure new investment but $4.9 billion of debt to companies as BP, BG, Eni and Dana Gas still remain.

Egypt recently closed the long-awaited deal with Höegh LNG for the floating storage and regasification unit which would allow the country to start importing LNG, which it was unable to do previously.

The country’s Ministry of Petroleum recently said that 6 cargoes of LNG will be imported from Algeria from April to September 2015.

LNG World News Staff; Image: Höegh LNG

Share this article

Follow LNG World News

One thought on “Egypt plans second LNG import terminal”

Comments are closed.

Events>

<< Apr 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Flame 2020

Flame is Europe’s largest and most influential meeting place for the global gas industry.

read more >

4th PNG Petroleum & Energy Summit

The CWC Group, in partnership with Kumul Petroleum Holdings Ltd.

read more >

FSRU World Congress 2020

FSRU World Congress 2020 will therefore focus on further Commercialising FSRUs through LNG-to-Power…

read more >

CWC World LNG & Gas Series: 12th Asia Pacific Summit

The 2020 Summit will offer an unrivaled programme covering relevant and significant discussion topics…

read more >