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Seatrium said in a statement on Tuesday that the contract covers the conversion and longevity of Hoegh Gandria to an FSRU, which includes the installation of a regasification skid, as well as integration of key supporting systems such as cargo handling, utility, offloading, electrical, and automation systems.
According to Seatrium, engineering works for the project will start in May 2025 with an estimated project duration of 18 months.
When completed, the FSRU will be deployed to the LNG terminal in Port of Sumed, Egypt under a charter agreement between Hoegh Evi and Egypt Natural Gas Holding Company (EGAS).
Seatrium noted it has successfully delivered 20 FSRU/FSU conversion projects since 2007.
The firm did not provide the price tag of the Hoegh Evi contract.
On Monday, the Norwegian FSRU player announced that it has signed a new charter deal with Egypt’s EGAS to deploy a converted FSRU in Egypt.
According to Hoegh Evi, 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.
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.