Egypt Daily News – Three informed sources revealed that the German regasification vessel Energos Power, owned by the U.S. company New Fortress, will begin operations on June 22, after arriving on Sunday at the port of Alexandria in Egypt.
The sources, who requested anonymity, added that the vessel will head to Damietta Port on Monday to be prepared for actual operation, after which it will move to Ain Sokhna Port, where it will begin injecting around 600 million cubic feet of gas per day into the national energy grid.
Egypt’s Minister of Petroleum, Karim Badawi, announced the arrival of the new vessel on Monday, stating that its reception is part of “the ministry’s plan to secure the natural gas supply required for power stations during the summer season, within a broader set of integrated measures carried out by government ministries to ensure the stability of the power grid.”
Egypt reached an agreement in April to lease the German regasification vessel, which had been anchored in the Baltic Sea at the time, to receive liquefied natural gas (LNG) shipments. A government official told Asharq at the time that the vessel was expected to arrive at Sokhna Port by June.
Steps to Address the Gas Production Shortfall
Once a gas exporter, Egypt has unexpectedly shifted to becoming an importer, due to increasing domestic demand and a decline in natural gas field production.
Egypt currently produces about 4.1 billion cubic feet of natural gas per day, while domestic demand is around 6.2 billion cubic feet daily, typically rising to 7 billion during the summer months due to higher electricity consumption.
To address this shortfall, Egypt is working on signing long-term agreements for LNG purchases, aiming to reduce reliance on the volatile spot market. It has already prepared several terminals to receive LNG shipments as part of long-term usage strategies.
The Egyptian government has estimated that it will need about $9.5 billion to import LNG and fuel oil for the fiscal year 2025–2026 (beginning July 1), compared to over $6 billion spent so far this year, according to a government official who spoke to Asharq earlier this year.
Three Regasification Vessels by June
The Energos Power is the second regasification vessel to arrive in Egypt, following the Norwegian vessel Höegh, whose lease contract is set to end in February next year. A third vessel, currently located at the Port of Aqaba, is expected to arrive by June 4.
One of the sources noted that the regasification ship at Aqaba is already receiving LNG shipments and feeding gas into the pipeline linking Jordan and Egypt, helping to support the Egyptian network.
