Egypt to establish floating LNG station in Ain Sokhna to support electricity stability

Egypt is seeking to implement a new strategic project to boost liquefied natural gas (LNG) imports by establishing a modernized floating terminal at the Sumed Port in Ain Sokhna.

This will contribute to stabilizing supplies during peak consumption periods, as part of its ongoing efforts to secure its energy needs.

The project falls within the state’s plan to address seasonal challenges associated with increased demand for electricity. It relies on converting a natural gas carrier into a floating storage and regasification unit (FSRU), with a capacity of up to one billion cubic feet per day.

The project is being implemented in cooperation between the Egyptian Natural Gas Holding Company (EGAS) and Hoegh Evi energy, a marine solutions specialist.

A government source said that Egypt is proceeding steadily in implementing its strategies to enhance energy security and meet the needs of the local market, in light of the continued rise in demand for natural gas, especially during the summer months.

The source indicated that the agreement concluded by EGAS with Hoegh Evi energy to establish an FSRU represents a pivotal step toward diversifying supply sources and enhancing the flexibility of the national energy system.