Egypt is in talks with Excelerate Energy for a floating storage and regasification unit (FSRU) to help ensure steady natural gas supplies for the Egyptian domestic market, the petroleum ministry said in a statement on Thursday.

Steven Kobos, CEO of Excelerate Energy, expressed his company's readiness to supply the necessary FSRUs to Egypt, according to the statement.

Excelerate is a U.S. based firm offering downstream LNG infrastructure and a fleet of 11 FRSUs, according to its website.

Egypt already has a floating LNG import terminal at Ain Sokhna and has contracted a second vessel that is due to start running in mid-2025.

It has been exploring different options for additional gas facilities amid a chronic gas shortage and higher projected demand for electricity during the summer.

Kobos also highlighted the potential for increased collaboration in LNG trading and projects, fuelled by significant confirmed reserves and new discoveries in the Eastern Mediterranean.

Egypt and Cyprus signed agreements last month to enable the export of gas from Cyprus's offshore fields via Egypt as both countries seek to bolster the Eastern Mediterranean's role as an energy hub.

(Reporting by Mohamed Ezz; Editing by Aidan Lewis)