According to the Ministry of Petroleum of Egypt, the Egyptian Natural Gas Holding Company (EGAS) is going to sign a contract within this month to purchase 6 cargoes of LNG from Sonatrach, Algeria, for shipments during April - September 2015. The purchase/sale was preliminarily agreed earlier between the two parties. The Egyptian Ministry and the Ministry of Energy and Mines of Algeria confirmed it in the meeting held on December 4, 2015.|
The LNG supplied from Algeria will be received by an FSRU (floating storage and regasification unit) that EGAS chartered from Hoegh LNG, Norway.
Under the chartering contract, Hoegh LNG plans to send "HOEGH GALLANT", a newbuild by Hyundai Heavy Industries, to Ain Sokhana in northeast of Egypt, starting from the end of the first quarter of 2015. The FSRU was already completed and currently under a short-time charter as an ocean-going LNG tanker.