Ahmad 
The Egyptian Ministry of Petroleum and Mineral Resources announced its intention to begin actual commercial operation of the “Hog Galleon” liquefied gas regasification ship next week.
The ship, which was chartered by the Egyptian Natural Gas Holding Company (EGAS) from the Norwegian company Hoge, will begin gasifying the first imported shipment of liquefied gas to feed the national gas grid.
The ship “Hog Galleon” will arrive at the port of Ain Sokhna on June 13, and its trial operation began at the beginning of this week and will continue until late June.
The ship gasifies the first shipment of liquefied gas that was contracted from the global spot market, which arrived in Egypt in the middle of this month. The ship gasifies the shipment and pumps it into the national gas network.
The company intends to gasify two additional shipments of liquefied gas during the first week of July to compensate for the current shortage in gas supplies to power stations and factories.
The ship can provide approximately 500 million cubic feet of gas per day to the local market, which enhances the Ministry of Petroleum’s ability to meet the increasing demand for gas during the summer months.
The ship receives the second shipment of imported gas from the spot market at the beginning of July, and the Egyptian Ministry of Petroleum relies on the economic feasibility of importing petroleum derivatives, which contributes to reducing import costs by intensifying the import of diesel or gas, whichever is cheaper globally.
The Ministry expects that LNG imports from Israel, along with the regasification ship, will help fill the current gap in gas consumption during the summer months, when demand for electricity is increasing.
The Ministry of Petroleum intends to increase the volume of its annual production of natural gas during 2024-2025 through research and exploration auctions that it recently presented to foreign partners, and the approaching start of production from concession areas in the Red Sea that were awarded in 2023 to international companies operating in Egypt.
Analysis – Libyan Municipal Elections… Navigating Aspiration and Challenges