Höegh LNG Strikes Deal to Deploy FSRU Hoegh Galleon in Egypt

Norway-based Höegh LNG has made an agreement with Australian Industrial Energy (AIE) and Egyptian Natural Gas Holding Company (EGAS) for the deployment of the floating storage and regasification unit (FSRU) Hoegh Galleon. 

The aim of the deployment is to support energy security in Egypt, Höegh LNG said.

Hoegh Galleon will be located in Ain Sokhna in Red Sea for a likely period of 19-20 months, after which it is expected to be deployed to AIE’s LNG terminal currently under construction at Port Kembla, Australia.  

"Together with AIE and EGAS, we are pleased to provide Egypt with flexible infrastructure in support of energy security. Höegh LNG is the industry leader in the rapid deployment of FSRUs, and we are pleased that we can provide this solution for EGAS together with AIE while continuing to develop our strong partnership,” said Erik Nyheim, President & CEO of Höegh LNG. 

Höegh LNG and AIE announced a 15-year FSRU charter agreement for Hoegh Galleon in June 2022. The agreement with EGAS is for an interim period of June 2024 to February 2026.