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Hoegh Evi said on Monday that the charter is for 10 years.
The FSRU Hoegh Gandria will be deployed in the fourth quarter of 2026 to the Port of Sumed and will supply up to 1,000 mmscf/day of peak LNG regasification capacity, making it a “critical” part of Egypt’s diversified and flexible energy infrastructure, it said.
Moreover, Hoegh Evi said the conversion project will begin immediately, to ensure the timely delivery of the FSRU.
In 2023, the company, previously known as Hoegh LNG, bought this 2013-built LNG carrier from CoolCo for about $184.3 million, saying the acquisition provides flexibility to pursue FSRU conversion opportunities.
The unit will replace the FSRU Hoegh Galleon, which was deployed to Egypt in July 2024, on an interim charter from Australian Industrial Energy (AIE) and Hoegh Evi.
According to Hoegh Evi, Galleon will remain in Egypt for up to an additional year before deployment to AIE’s LNG terminal in Port Kembla, Australia in 2027.
Egypt boosting LNG imports
This announcement comes just days after Germany’s Ministry for Economic Affairs and Energy signed a deal with Egypt’s state-owned EGAS to charter the 174,000-cbm FSRU Energos Power.
EGAS subchartered the FSRU from BMWK.
The unit, with a regasification capacity of up to 7.5 bcm per year, is on a ten-year charter deal with BMWK, which started in 2023.
Energos Infrastructure, a part of US asset manager Apollo, owns this FSRU.
Egypt shifted from being an LNG exporter to an importer early last year due to declining domestic gas production and rising demand for cooling amid multiple heatwaves.
To support its growing need for natural gas, Egypt currently hosts Hoegh Galleon at the Sumed port in Ain Sokhna, with a second unit, the 160,000-cbm Energos Eskimo, set to arrive in June.
In December 2024, Egypt’s EGAS signed a deal with US LNG player New Fortress Energy to charter a second FSRU.
Energos Infrastructure also owns Energos Eskimo.