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>

<< Oct 2019 >>
MTWTFSS
30 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 31 1 2 3

Budapest LNG Summit 2019

The Budapest LNG Summit is a niche event focused on the up and coming LNG region of Central & Eastern Europe (CEE).

read more >

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >