{"id":656615,"date":"2024-12-08T00:00:00","date_gmt":"2024-12-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/08\/egypt-to-lease-second-lng-floating-regasification-unit-starting-2h-2025\/"},"modified":"2024-12-08T00:00:00","modified_gmt":"2024-12-08T00:00:00","slug":"egypt-to-lease-second-lng-floating-regasification-unit-starting-2h-2025","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/08\/egypt-to-lease-second-lng-floating-regasification-unit-starting-2h-2025\/","title":{"rendered":"Egypt to lease second LNG floating regasification unit starting 2H 2025"},"content":{"rendered":"

It looks like the LNG regasification unit docked in Jordan may soon be <\/strong>heading to Ain Sokhna<\/strong>, following an agreement to lease a unit between US-based New Fortress Energy and Egyptian Natural Gas Holding Company (EGAS) starting in 2H 2025, covered in an Oil Ministry statement<\/a> and report<\/a> from Trade Winds. Although yet to be specified in any official communications from the two companies, earlier unconfirmed reports<\/a> name the vessel as the Energos Eskimo that is currently docked in Jordan\u2019s Aqaba Port and has been shared between the two countries under an agreement inked last year. The length or the cost of the lease are yet to be announced.<\/p>\n

The regasification unit may be leaving Jordan, but it looks like the country will still be <\/strong>able to make use of the vessel. <\/strong>EGAS signed an agreement<\/a> earlier last week with Jordan\u2019s National Electric Power Company that will see Jordan share the use of one of Egypt's LNG storage and regasification units over the next two years. The agreement will enable Jordan to ensure it can process incoming shipments ahead of its fixed Aqaba LNG terminal slated for completion in 2026. <\/p>\n

The unit will be the second terminal to be docked in Egypt<\/strong>, alongside Norwegian floating storage and regasification unit that docked<\/a> in Ain Sokhna in June. The new unit will add a gasification capacity of 750 mn cf\/d and have a storage capacity of 160k cbm to help the state keep pace with growing domestic demand for natural gas during peak periods, according to the ministry.<\/p>\n

We\u2019ve been on the lookout for news like this <\/strong>after a government source told EnterpriseAM<\/a> last month that Egypt will begin leasing another floating storage regasification unit at the start of 2025 in a move aimed at expanding the country\u2019s limited regasification capacity. <\/p>\n

Limited capacity has been cited as a reason for the Oil Ministry pushing back LNG<\/strong> delivery dates<\/strong>, with our source telling us the ministry is in talks with suppliers to postpone LNG shipments<\/a> from 4Q 2024 to 1Q 2025 on the back of limited regasification capacity and currently sufficient domestic supply of natural gas.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt will lease the unit from the US-based New Fortress Energy<\/p>\n","protected":false},"author":1,"featured_media":656616,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7135,93,72,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-656615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-egas","tag-energy","tag-enterpriseam","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"475ff2c7-ab80-4fd9-a643-af03a698cd47","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/642.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt to lease second LNG floating regasification unit starting 2H 2025","related_issue":[656610],"teaser":"Egypt will lease the unit from the US-based New Fortress Energy","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.9850cd0a-e9a8-4f04-9975-4f7e3260ad2f.mp3"},"yoast_head":"\nEgypt to lease second LNG floating regasification unit starting 2H 2025 - 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