French utility and LNG player Engie on Monday executed a cooperation agreement with the Egyptian National Gas Company (EGAS) for imports of liquefied natural gas to Egypt.
The deal was signed during the state visit of French president François Hollande to Egypt, Engie said in a statement, however, no terms of the cooperation have been revealed.
Additionally, Engie’s deputy CEO and COO Isabelle Kocher signed an energy cooperation agreement with the National Renewable Energy Association (NREA) and the Egyptian Electricity Transport Company (EETC) for the development of renewable energy.
Egypt started importing liquefied natural gas in April last year with the arrival of Höegh Gallant FSRU, which is being used as an import terminal off Ain Sokhna on a five-year charter with EGAS.
Energy shortages, increased domestic demand for gas and decline in output have turned Egypt from a net exporter to a net importer of gas.
LNG World News Staff