No fix for Egypt's LNG needs as search for terminal widens

Egypt has missed a window to avert gas shortages this year as plans to secure a floating import terminal from a Norwegian firm hit snags, causing officials to hedge their bets by restarting talks with U.S.-based rival Excelerate Energy.

The two-year tale of Egyptian efforts to secure a floating liquefied natural gas (LNG) terminal is mostly one of delay, despite desperate need at home for gas to keep the lights on.

State-run energy firms EGAS and EGPC promised to have a terminal up and running last summer until a chaotic tendering process and political upheaval forced it to push back the job by a year.

The most recent talks between EGAS and Norwegian terminal provider Hoegh LNG showed signs of progress, but hurdles to achieving a deal have since emerged, industry sources with direct knowledge of events have told Reuters.

Last week Egyptian officials reached out to Excelerate Energy to resume talks to secure a terminal allowing the country to lay its hands on fuel, shortages of which helped stir dissent in the Arab world's most populous state last year.

Industry sources say Egypt already has little hope of importing LNG cargoes to stave of shortages this year as it will take a facility six months after a deal to come onstream.