{"id":618469,"date":"2024-04-15T00:00:00","date_gmt":"2024-04-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/15\/egypt-looks-to-buy-more-lng-in-the-months-to-come-and-lease-floating-regasification-unit-from-bw-energy\/"},"modified":"2024-04-15T00:00:00","modified_gmt":"2024-04-15T00:00:00","slug":"egypt-looks-to-buy-more-lng-in-the-months-to-come-and-lease-floating-regasification-unit-from-bw-energy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/15\/egypt-looks-to-buy-more-lng-in-the-months-to-come-and-lease-floating-regasification-unit-from-bw-energy\/","title":{"rendered":"Egypt looks to buy more LNG in the months to come and lease floating regasification unit from BW Energy"},"content":{"rendered":"

Egypt is looking to buy more LNG:<\/strong> The state gas firm EGAS is looking to import no less than one LNG shipment a month until July or August in efforts to prevent a repeat of last year\u2019s rolling blackouts, Bloomberg<\/a> reports, citing people it says have knowledge of the matter. The country will need no less than five such shipments for the summer, one source is quoted as saying. The government has purchased at least two shipments of LNG to be delivered next month, an Oil Ministry source told us<\/a> last week<\/p>\n

And the gov\u2019t is already in talks to lease a floating regasification unit <\/strong>from Norway\u2019s BW<\/a>Energy<\/a> for five years, an unnamed source told Al Borsa<\/a>. The proposed regasification unit that will dock in Ain Sokhna will do away with the country\u2019s reliance on Jordan\u2019s terminal in Aqaba and be the first in the country since the government ended a contract with Norway\u2019s H\u00f6egh Gallant in 2018<\/a>.<\/p>\n

ICYMI: <\/strong>The power outages are set to make their comeback today now that the Eid Al Fitr break is over. Lights are expected to go out for two hours a day, a source at the electricity sector told Enterprise earlier this month.<\/p>\n

But, it will get more difficult for us to secure LNG shipments <\/strong>on the back of growing seasonal demand from South America \u2014 where winter starts in June. Increasing demand paired with Egypt\u2019s absence from the LNG market means a tightening LNG market and may put Egypt in a position where it will have to \u201cscramble for shipments in the coming months,\u201d Bloomberg<\/a> reported. <\/p>\n

The solution? <\/strong>\u201cIn the long run, Egypt will need to increase its exploration efforts to boost production and bet on renewable energy,\u201d International Crisis Group\u2019s North Africa project director Riccardo Fabiani told Bloomberg<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

EGAS is aiming to import at least one LNG shipment a month until July or August<\/p>\n","protected":false},"author":1,"featured_media":618470,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"7969a1e1-5fa4-4a4a-af73-74de094fd945","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/791.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt looks to buy more LNG in the months to come and lease floating regasification unit from BW Energy","related_issue":[618456],"teaser":"EGAS is aiming to import at least one LNG shipment a month until July or August","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.651bea6f-c369-4b2a-ab21-3b101332cfc5.mp3"},"yoast_head":"\nEgypt looks to buy more LNG in the months to come and lease floating regasification unit from BW Energy - 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One source said that two of the shipments will be offered on an FOB basis and available for loading 8-10, 17-19 and 21-22 August.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561042,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/damietta-lng-plant-ships-first-cargo-to-europe\/","url_meta":{"origin":618469,"position":1},"title":"Damietta LNG plant ships first cargo to Europe","author":"enterpriseam admin","date":"23 March 2021","format":false,"excerpt":"The first Europe-bound LNG shipment from the Damietta liquefaction plant arrived in Belgium on Sunday \u2014 almost a month after the facility restarted operations and sent out trial shipments of gas following an eight-year hiatus, according to S&P Global. The cargo, which made its way out of the Damietta Port\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598187,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/egypt-offers-13-lng-cargoes-in-auction\/","url_meta":{"origin":618469,"position":2},"title":"Egypt offers 13 LNG cargoes in auction","author":"enterpriseam admin","date":"16 May 2019","format":false,"excerpt":"The Egyptian Natural Gas Holding Company (EGAS) is offering 13 LNG cargoes in a number of auctions for shipment in June and July, Reuters reports. Egypt is expected to export 12 mn tonnes of natural gas worth USD 2 bn in FY2019-2020.","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":564726,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/23\/project-bring-damietta-lng-back-to-life-to-fully-ratchet-up-on-15-march\/","url_meta":{"origin":618469,"position":3},"title":"Project \u201cbring Damietta LNG back to life\u201d to fully ratchet up on 15 March","author":"enterpriseam admin","date":"23 February 2021","format":false,"excerpt":"EXCLUSIVE- Dispute that put Damietta LNG in a coma to end next month: It seems possible that the plant will be making regular scheduled shipments starting from next month, as a final agreement to establish a new ownership structure for the Damietta LNG plant is due to be finalized on\u2026","rel":"","context":"In "SPEED ROUND: ENERGY"","block_context":{"text":"SPEED ROUND: ENERGY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/495.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555791,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/28\/egypt-partners-with-greece-israel-to-boost-gas-export-plans\/","url_meta":{"origin":618469,"position":4},"title":"Egypt partners with Greece, Israel to boost gas export plans","author":"enterpriseam admin","date":"28 November 2021","format":false,"excerpt":"Egypt\u2019s ambitions to become a regional gas hub received a boost last week after the Madbouly government signed agreements with Greece and Israel that could help it grow exports to Europe. The MoUs, inked during Thursday\u2019s meeting of the East Mediterranean Gas Forum in Cairo, could see Egypt import more\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/612.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":618972,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/23\/egypt-wants-to-import-three-shipments-of-lng-a-month-during-the-summer\/","url_meta":{"origin":618469,"position":5},"title":"Egypt wants to import three shipments of LNG a month during the summer","author":"enterpriseam admin","date":"23 April 2024","format":false,"excerpt":"Egypt needs some 105 mn cubic meters of natural gas daily and 10k tons of mazut in order to meet domestic electricity demand","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/4\/1536.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=618469"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/618469\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/618456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/618470"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=618469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=618469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=618469"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=618469"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=618469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}