Höegh Evi has entered into a 10-year time charter agreement with Egyptian Natural Gas Holding Company (EGAS) for the deployment of the floating storage and regasification unit (FSRU) Hoegh Gandria in Egypt, according to the company's release.
The vessel will be positioned at the Port of Sumed in the fourth quarter of 2026 and is expected to provide up to 1,000 million standard cubic feet per day (mmscf/d) of peak LNG regasification capacity.
According to Erik Nyheim, President and CEO of Höegh Evi, "Höegh Evi is proud of our longstanding role as a trusted energy infrastructure partner to Egypt and we are excited to begin the conversion of Hoegh Gandria to a floating import terminal, highlighting the unique flexibility of marine infrastructure. We look forward to building on the successful long relationship we have with EGAS and supporting the growth of Egypt's diversified energy system."
Höegh Evi will immediately begin the conversion of the LNG carrier Hoegh Gandria into an FSRU to facilitate timely deployment.
The vessel was acquired in February 2023 with the purpose of conversion for long-term use.
The Hoegh Gandria will replace the Hoegh Galleon, which was deployed to Egypt on an interim basis in July 2024 under a charter agreement with AIE and Höegh Evi. The Hoegh Galleon is scheduled to remain in Egypt for up to an additional year before its planned deployment to the LNG terminal at Port Kembla, Australia, in 2027.
Höegh Evi is a Norwegian company specializing in floating energy infrastructure solutions, including floating storage and regasification units (FSRUs), ammonia and hydrogen import terminals, and carbon transport and storage services. With a history spanning 50 years, Höegh Evi operates one of the world's largest FSRU fleets and employs around 900 people globally.
Egyptian Natural Gas Holding Company (EGAS) is the state-owned entity responsible for managing Egypt's natural gas sector, including exploration, production, transportation, and marketing of natural gas and LNG. It plays a key role in Egypt's energy strategy and supports the country's position as a regional hub for natural gas and LNG.
AIE (Australian Industrial Energy) is a joint venture focused on developing LNG import and regasification infrastructure in Australia, including the Port Kembla Gas Terminal project in New South Wales.