Egypt’s petroleum minister says LNG vessel to leave before weekend

Egypt’s petroleum minister said on Tuesday that a regasification vessel would leave Egypt by the end of the week, a day after

Norway’s Hoegh LNG said Egypt was to give up one of its two floating liquefied natural gas (LNG) terminals.

The minister, Tarek El Molla, told Reuters the other vessel would stay behind as part of the petroleum ministry’s strategy to maintain energy supplies for the country.

Hoegh said Egypt Natural Gas Holding (EGAS), having decided to end its charter early, has agreed to pay the difference between its contract for the terminal, called a floating storage and regasification unit (FSRU), and a new contract with a third party.