Report: Egypt to deploy Turkish FSRU

Kpler said on Thursday, citing unidentified sources, that the most likely candidate is the 170,000-cbm Ertugrul Gazi, owned b Türkiye’s state-owned natural gas and LNG firm, Botas.

This unit is serving the Dortyol facility in the southern province of Hatay.

However, another possibility is the 180,000-cbm Vasant-1, also owned by Botaş and deployed at the Saros LNG terminal.

“Vasant-1 has been significantly underutilized over the past year, making it a potential option for a short-term charter in Egypt,” Kpler said.

Last year, India’s Swan Energy agreed to sell its 2020-built FSRU, Vasant 1, to Botas for $399 million.

Kpler noted that 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 the 170,000-cbm Hoegh Galleon FSRU 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.

This deal is for Energos Eskimo, owned by Energos Infrastructure, a part of US asset manager Apollo

EGAS said the charter of the second FSRU will help secure the growing domestic demand for natural gas, especially during peak summer periods, and aligns with directives to ensure stable electricity supplies from natural gas.

Egypt currently imports LNG via Hoegh Evi’s 170,000-cbm FSRU, Hoegh Galleon, which is located in Ain Sokhna.

In May 2024, Norwegian FSRU player Hoegh LNG confirmed it had signed a deal with Australian Industrial Energy (AIE) and EGAS to deploy the 2019-built FSRU Hoegh Galleon to Egypt.

Hoegh said the agreement with EGAS is for an interim period of June 2024 to February 2026 and will help Egypt to address potential gas shortages and fuel power plants during summer months.