Höegh LNG’s FSRU hand-picked to bolster Egypt’s energy security

Bermuda-based owner and operator of LNG carriers and FSRUs Höegh LNG has struck a deal with Australian Industrial Energy (AIE) and Egyptian Natural Gas Holding Company (EGAS) to deploy one of its floating storage and regasification units (FSRUs) in Egypt.

Aiming to support energy security in Egypt, the FSRU Hoegh Galleon will be situated in Ain Sokhna, Egypt, for 19-20 months. Afterward, the FSRU is expected to be deployed to AIE’s LNG terminal, which is currently under construction at Port Kembla, Australia. 

Erik Nyheim, President & CEO of Höegh LNG, commented: “Together with AIE and EGAS, we are pleased to provide Egypt with flexible infrastructure in support of energy security. Höegh LNG is the industry leader in the rapid deployment of FSRUs, and we are pleased that we can provide this solution for EGAS together with AIE while continuing to develop our strong partnership.”

The agreement with EGAS for an interim period of June 2024 to February 2026 comes after Höegh LNG and AIE disclosed a 15-year FSRU charter agreement for the FSRU Hoegh Galleon in June 2022, after the FSRU joined the Bermuda-based firm’s fleet in 2019.

Recently, Höegh LNG settled the disputes and pending arbitrations with the charterer of PGN FSRU Lambung, which is serving Pertamina’s Perusahaan Gas Negara (PGN) off Indonesia.