Wed Jul 20, 2016 6:21am EDT
CAIRO
Egypt's tender to lease a third floating and storage regasification unit (FSRU) has drawn interest from four international firms, an Egyptian official told Reuters on Wednesday.
Once a net energy exporter, Egypt began imports of liquefied natural gas (LNG) last year and has leased two FSRUs already to help avert power shortages caused by falling energy production and rising consumption.
The firms that have expressed interest in the latest tender include Norway's Hoegh, U.S. firm Excelerate Energy and Singapore-based Norwegian gas shipping company BW Gas , the ministry official said, declining to name the fourth firm.
Hoegh delivered Egypt's first FSRU in April 2015 and BW Gas supplied the second in September.
May 30th, 2016
Israel Electric Corp. (IEC) has initiated a move to simplify LNG import procedures and lower the price, The Marker, a business daily reported. IEC is the only entity importing LNG, most of which it uses in its power plants, the remainder being sold on the market.
Israel has no onshore regasification facility. In 2011 Israel invested $150mn in an offshore buoy that can be connected to a floating storage and regasification unit (FSRU). However, each time the FSRU is emptied it has to leave Israeli waters and sail to Cyprus in order to be resupplied with LNG from an awaiting LNG cargo ship. That takes at least three days, during which period any major mishap in the natural gas systems has the potential to cause lengthy power outages.
