Egypt signs contract for second LNG terminal
Facility to be delivered by Norway's BW Gas
Egypt has signed a five-year contract with Norway's BW Gas for the provision of a liquefied natural gas (LNG) import terminal, an official at state company EGAS told Reuters on Monday.
The new floating regasification and import terminal will have a capacity of 750mn cubic feet per day, according to the official, and will be the second of its kind in the country.
In April, Norwegian firm, Hoegh LNG delivered Egypt's first import terminal, allowing the country to start LNG imports.
The terminal will convert super-cooled LNG into gas and help meet the country's domestic energy shortages.
It is scheduled to arrive in the last week of September, accoridng to the official.
Oil Minister Sherif Ismail told Reuters in February that he expected Egypt to stop importing LNG by 2020 as energy deals signed with foreign companies and oil field development agreements come to fruition.