Egypt to lease 10-year floating LNG unit starting mid-2025

Suez, Egypt - November 14, 2019: LPG Tanker vessel Ramagas passing Suez Canal in Egypt. An LPG tanker is a gas gas tanker ship designed for transporting liquefied petroleum gas (LPG) in bulk. Image used for illustrative purpose. Getty Images
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The vessel will be relocated from Jordan’s Aqaba terminal to Ain Sokhna on Egypt’s Red Sea coast under a 10-year lease agreement

Staff Writer, Arab Finance

December 5, 2024

PHOTO
Suez, Egypt - November 14, 2019: LPG Tanker vessel Ramagas passing Suez Canal in Egypt. An LPG tanker is a gas gas tanker ship designed for transporting liquefied petroleum gas (LPG) in bulk. Image used for illustrative purpose. Getty Images

Egypt is set to lease the Energos Eskimo, a floating storage and regasification unit (FSRU), by mid-2025, unnamed sources familiar with the matter told Bloomberg.

The vessel will be relocated from Jordan’s Aqaba terminal to Ain Sokhna on Egypt’s Red Sea coast under a 10-year lease agreement with the state-owned Egyptian Natural Gas Holding Company (EGAS).

The Energos Eskimo, controlled by New Fortress Energy and owned by shipping firm Energos, will serve as Egypt’s second LNG import terminal.

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