Egypt received the floating storage and regasification unit (FSRU) "Energos Winter" at Ain Sokhna port on August 25, Asharq Business reported.

Egypt relies on FSRUs to receive imported LNG shipments and convert them back into gaseous form for domestic use. The addition of the "Energos Winter" vessel will strengthen the country’s LNG import infrastructure at a time of increasing domestic demand and limited local output.

The new floating unit has a processing capacity of 450mn cubic feet of natural gas per day (MMSCFD), a government official is cited as saying. The vessel will be transferred to Damietta port to begin operations by the end of next month.

Petroleum Projects and Technical Consultations (Petrojet) is currently carrying out modifications and preparations on the "Energos Winter" to enable its connection to the United Gas Derivatives Company’s berth in Damietta, Asharq Business writes.

Earlier in August, Egypt started receiving 300 MMSCFD from the "Energean Force" FSRU stationed at Aqaba port in Jordan. 

The government official noted that the "Energos Winter" is the fifth and final FSRU contracted by Egypt. Its charter rate is about $3mn per month, significantly lower than the roughly $5.4mn monthly cost of each of the three larger FSRUs currently based at Ain Sokhna, which have individual capacities of 750 MMSCFD, Asharq Business writes.

Egypt is in the midst of a transformation from an LNG exporter to an importer of the super-cooled gas. With the fastest population growth rate in North Africa, Egypt has been forced to look abroad for additional sources of energy to power its economy.

The North African country plans to purchase up to 160 LNG cargoes and has already inked deals to substantially LNG import volumes until 2028.