Egypt and Jordan have reportedly completed negotiations on gas allocation from the countries’ two shared regasification vessels, Al Borsa reports, citing a government source it says has knowledge of the matter. The agreement is expected to be inked by May 2025 to ensure the continued operation of the gasification plant in Jordan's Aqaba and its transfer to Egypt's Ain Sokhna, the source added. Egypt has provided facilities to Jordan, including exempting it from rental and operating costs and securing its gas needs at discounted prices, the source added.

What does the agreement entail? Jordan is set to receive 350 mn cubic feet of gas per day — equivalent to 25% of the vessels’ total capacity. The ships are expected to be able to gasify 850 mn and 1.2 bn cubic feet of LNG per day, according to the source. The agreement is also said to include a contingency plan for when both countries require gas at the same time.

REFRESHER- The LNG regasification unit docked in Jordan was reported to be heading to Egypt’s Ain Sokhna last month following an agreement to lease a unit between US-based New Fortress Energy and Egyptian Natural Gas Holding Company (EGAS) starting in 2H 2025.

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