EGAS has signed an agreement with New Fortress Energy, to lease a second floating storage and regasification unit (FSRU). The unit will receive, store, regasify, and deliver liquefied natural gas (LNG) to the national gas grid. This is part of the Egyptian Natural Gas Holding Company’s (EGAS) strategy to secure natural gas supplies and support various economic sectors in Egypt while ensuring the sustainability of local market needs.
The second FSRU is equipped with cutting-edge technology, and a storage capacity of 160,000m3 of LNG and a regasification capacity of up to 750 million cubic feet per day. The unit will be stationed at the Sumed in Ain Sokhna, Egypt, with operations expected to commence in the second half of 2025.
