EGAS Goes to BW Gas for Second LNG Floating Import Terminal

zoom The Egyptian Natural Gas Holding Company (EGAS) has contracted Singapore-based BW Gas to provide Egypt with its second liquefied natural gas (LNG) floating import terminal, scheduled to arrive off Ain al-Sokhna port in late September, Reuters reports. EGAS and BW Gas have reportedly signed a 5-year, USD 300 million contract. The new terminal will have the capacity of 750,000 cubic meters, and will start operations mid-October. The ship is expected to have a capacity of producing 42 liquefied natural gas (LNG) shipments on an annual basis, and the single shipment volume capacity ranging between 140,000-170,000 cubic meters, Daily News Egypt informed back in April, citing an official from EGAS. EGAS seems to have decided to place the second LNG in Ain al-Sokhna port, as initially planned, after announcing back in April that the second terminal will be situated off Adabiya Port, due to security reasons. Egypts first LNG floating import terminal the FSRU Höegh Gallant started operations off Ain al-Sokhna back in April. Höegh LNG Holdings and EGAS also signed a five-year contract, expected to bring an average annual EBITDA of around USD 40 million to the Oslo-listed company. World Maritime News Staff