July 03, 2024 [LNG Prime]- Hoegh LNG’s 170,000-cbm FSRU Hoegh Galleon has received its first cargo of LNG in Egypt’s Ain Sokhna since it arrived last month to serve a charter deal with EGAS, according to shipping data.
The 2021-built 174,000-cbm, Hellas Athina, owned by Latsco Shipping and chartered by commodity trader Trafigura, delivered the shipment to the FSRU from the Freeport LNG terminal in Texas, its AIS data provided by VesselsValue shows.
Hellas Athina has already unloaded the shipment and it left Ain Sohna located on the western coast of the Gulf of Suez, about 43 km south from Suez, the data showed on Wednesday.
In May, Norwegian FSRU player Hoegh LNG confirmed it has signed a deal with Australian Industrial Energy (AIE) and Egypt’s EGAS to deploy the 2019-built FSRU Hoegh Galleon to Egypt.
The agreement with EGAS is for an interim period of June 2024 to February 2026 and will help Egypt to address potential gas shortages and fuel power plants during summer months.
Last month, Hoegh Galleon arrived loaded from the Sagunto LNG import terminal in Spain to Ain Sohna.
Several reports said last week that Egypt has awarded a large tender for LNG cargoes.
S&P Global Commodity Insights said that Egyptian General Petroleum Corp., the parent company of EGAS, awarded a total of 20 cargoes on June 26.
In addition to the original 17 cargoes, EGPC awarded three more cargoes, two of which were for August delivery and one for September delivery, S&P Global Commodity Insights said, citing an EGPC spokesperson.
The company received offers from around 15 market players and the awarded tender comprised both fixed prices and TTF-linked cargoes.
According to S&P Global Commodity Insights, the price levels ranged between TTF plus $1.6/MMBtu and TTF plus $2/MMBtu.
The awardees included Total, BP, Vitol, Trafigura, and Aramco, the report said.
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