CAIRO – 16 March 2025: Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, recently held discussions with Steven Kobos, CEO of the U.S.-based LNG solutions company Excelerate Energy, to explore leasing floating storage and regasification units (FSRUs).
Their talks focused on strengthening Egypt’s LNG sector through technical collaboration and trade partnerships, according to a ministry statement.
In addition to this initiative, a government delegation will travel to Germany later this month to finalize a lease agreement for another regasification unit.
Egypt is also preparing to sign an agreement with Cyprus to lease an FSRU that will be stationed in the country to help meet peak energy demand during the summer.
The government is further expanding its regasification capacity in the Red Sea and Ain Sokhna.
Currently, two regasification vessels are docked in the Red Sea, and plans are in place to bring a third unit to Ain Sokhna by June 2025.
Additionally, a fourth unit from Turkey is expected to be operational this summer, reinforcing Egypt’s energy security strategy and boosting its LNG infrastructure.
Be Social
Comments
Leave a Comment