Egypt Signs Long-Term Deal for Terminal to Extend LNG Imports
Egypt signed a 10-year deal with Höegh Evi Ltd. for a floating liquefied natural gas import terminal, signaling the North African nation's long-term dependency on fuel imports.
Under a charter agreement with Egyptian Natural Gas Holding Co., the Hoegh Gandria will be deployed at the port of Sumed in the fourth quarter of 2026, the marine energy infrastructure company said in an emailed statement to Bloomberg. The vessel, which has been serving as an LNG carrier, will immediately begin its conversion to a floating storage and regasification unit.
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