Egypt to launch tender for second LNG import terminal: Source

Egypt will launch a tender for a second liquefied natural gas (LNG) import terminal in the coming weeks, which could help address the country's ongoing energy crisis, a source at the state gas board said on Tuesday.
High consumption, along with foreign firms' reluctance to invest in the sector until the government pays billions of dollars it owes, have turned the country from a net energy exporter into a net importer over the last few years.

Egypt can export LNG, which is natural gas chilled to minus 162 degrees Celsius into a liquid state, but it cannot import it without installing regasification and storage terminals.

The country finalised a long-delayed deal last month with Norway's Hoegh LNG for a floating storage and regasification unit that will allow it to begin LNG imports.