Egypt to de­lay third LNG ter­mi­nal for a month

Kuwait Times - - BUSINESS -

CAIRO: Egypt will de­lay plans to rent a third liq­ue­fied nat­u­ral gas im­port (LNG) ter­mi­nal for one month, un­til the min­istry of elec­tric­ity de­ter­mines its LNG needs, an of­fi­cial at state gas buyer EGAS told Reuters yes­ter­day. “We de­cided to de­lay hold­ing the ten­der for one month (un­til end-Novem­ber) un­til an agree­ment is made with the min­istry of elec­tric­ity over its needs for LNG over the com­ing pe­riod,” said the of­fi­cial, who de­clined to be iden­ti­fied. A third float­ing and stor­age re­gasi­fi­ca­tion unit (FSRU), an im­port ter­mi­nal that con­verts LNG to nat­u­ral gas to feed the power grid, is ex­pected to ar­rive at the end of June 2017 to han­dle a surge in LNG de­mand from new power plants com­ing on­line.

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