Thursday, December 1, 2016

Oil Ministry postpones hiring third FSRU - ENTERPRISE

Thursday, 1 December 2016

The Oil Ministry has postponed commissioning a third FSRU, saying it has no need to increase natural gas imports for 2017, Oil Minister Tarek El Molla told Al Borsa. The FSRU was scheduled to arrive at the SUMED port in Ain Al Sokhna in June 2017. We reported earlier this week that EGAS has locked-in its 2017 gas needs through a “mega tender” that gave it 96 cargoes for delivery across 2017 and 2018 with the option to buy 12 additional cargoes this coming year.