Minister of Petroleum and Mineral Resources Karim Badawi affirmed Monday the continued coordination between the ministries of petroleum and electricity, along with all relevant entities, to ensure the sustainability and stability of electric power supply.
His statement came during his participation, along with officials from the petroleum ministry and the Egyptian Natural Gas Holding Company (EGAS), in welcoming the arrival of a new vessel designed to receive imported liquefied natural gas (LNG) and inject it into the national gas grid after undergoing the required regasification process.
The vessel, Energos Power, owned by the American company New Fortress, arrived from Germany and docked at the southern berth of the “Tahya Misr” terminal at Alexandria Port.
According to a statement released Monday, the minister emphasized that the arrival of this new vessel is part of the ministry’s plan to secure the natural gas supplies needed for power plants during the summer.
It is part of a broader set of integrated measures being implemented by various government ministries to ensure the stability of the electricity grid, he said.
He noted that acquiring this regasification vessel, the second of its kind currently in operation, was the result of discussions held with the German government in both Cairo and Berlin during his last visit in March, aimed at leasing the vessel for operation in Egypt.
The minister explained that the Ministry of Petroleum and Mineral Resources continues to enhance the infrastructure’s capacity to receive imported LNG. The system has been strengthened with this new vessel, which complements the existing one at the SUMED Port in Ain Sokhna. Additionally, EGAS has contracted two more regasification vessels that will arrive one after the other, bringing the total number of Floating Storage and Regasification Units (FSRUs) it has to four. This will improve the efficiency and flexibility of the natural gas supply system and enhance its ability to meet rising demand, particularly during the summer months.
The minister conducted an inspection tour aboard the arriving ship which has a storage capacity of 174,000 cubic meters of gas.
