Posted on :Tuesday , 22nd December 2015

Egyptian Ministry of Petroleum recently revealed a US$324 million investment into infrastructure projects that will increase the country’s capacity to transfer and handle petroleum products in Ain Sokhna.

Minister of Petroleum and Mineral Resources Tarek El Molla said that securing petroleum and natural gas supply that could turn Egypt into an energy centre of the region is of high importance.

Ministry revealed in a statement that the Egyptian Natural Gas Holding Company (EGAS) and the Arab Petroleum Pipeline Company (SUMED) signed the first contract for utilization of Ain Sukhna Product Hub (ASPH) Jetty.

The ASPH project includes the construction of 2.2 km jetty with the ability to receive LNG carriers and FSRUs with of up to 216,000 cbm and 170,000 cbm capacity, respectively.

The LNG phase of the project is scheduled for completion in 2017, while the second phase of the project including butane and fuel oil storage and trading facilities should be completed in 2018.

Egypt currently has two FSRUs moored in the port of Ain Sokhna.

Höegh Gallant, provided by Höegh LNG started operations in April on a five-year charter deal for the Egyptian Natural Gas Holding Company (EGAS).

The second FSRU the BW Singapore provided by the Singapore-based BW started operations in October this year, also on a five-year charter deal with EGAS.

Additionally, under the ASPH project, three 50,000 cbm LPG tanks will be built as well as three 35,000 cbm fuel oil tanks, one 20,000 cbm gas oil flishing tanks and a combined LPG/product berth to accommodate LPG carriers in the range 5000 cbm to 82 000 cbm and oil tankers in the range 25 000 DWT to 160 000 DWT, SUMED added in its statement.