Egypt can­cels ten­der to rent third LNG ter­mi­nal

Kuwait Times - - BUSINESS -

Egypt has can­celled its ten­der to rent a third nat­u­ral gas im­port (LNG) re­gasi­fi­ca­tion ter­mi­nal as it is no longer needed, Oil Min­is­ter Tarek El Molla told Reuters yes­ter­day. “The ten­der to rent a third re­gasi­fi­ca­tion ter­mi­nal was can­celled due to a lack of need for it and un­til we re­assess the gas pro­duc­tion ca­pac­ity of Egypt and the con­sump­tion lev­els over the next few years,” he said. Once a net en­ergy ex­porter, Egypt be­gan im­port­ing liq­ue­fied nat­u­ral gas (LNG) last year and has leased two float­ing and stor­age re­gasi­fi­ca­tion units (FSRU) al­ready to help avert power short­ages caused by fall­ing en­ergy pro­duc­tion and ris­ing con­sump­tion.

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