Arab FinanceNew Fortis Energy Company has signed a 5 -year agreement with the Egyptian Holding Company for Natural Gas (EGAS) to publish the floating storage unit and re -enlargement “Erganus Winter” at the LNG import station of Egas in Damietta, Egypt, according to To explain The company's journalist.
The 138,250 -meter cubic vehicle will be the second storage and a floating mutation of New Fortis Energy in Egypt, to join “Eserus Eskimo” at an early date up to August 2025. The unit will provide reintegration services at Damietta Station.
“This deal is strengthening New Fortis Energy's goals of providing reliable and cost -effective energy all over the world,” said in the statement: “This deal is strengthening the goals of New Fortis Energy, which is to provide reliable and effective energy in all parts of the world,” said Yassin Mohamed, the executive director of Egas, that the agreement will contribute “to the security of natural gas supplies to the Arab Republic of Egypt over the next five years.”
Floating storage and reinforcement units are specialized ships that can store liquefied natural gas and convert it back into a gas form for distribution through pipelines, providing a flexible import capacity for countries that seek to enhance their energy security.
New Fortis Energy has an infrastructure for natural gas and liquefied natural gas worldwide, with origins that include ships and logistical services that provide energy solutions to markets all over the world.
It is worth noting that Egypt intends to continue to import liquefied gas from abroad to 2029-2030 to provide the country's needs, in light of the natural decrease in the fields, which folded the country's production to 4.1 billion cubic feet per day of natural gas, as daily needs are about 6 billion cubic feet and increase in the summer.
With the noticeable decline in Egypt's production of natural gas, the country has again turned to import liquefied gas after it stopped since 2018 with the support of new discoveries of gas at the time, led by the back field.
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