Egypt’s return as an LNG importer looks imminent as its rising domestic demand rapidly outstrips its supply with the likelihood of increased power rationing and another halt to LNG exports this summer. Pressure is mounting on Cairo to source a new LNG import terminal with no sign yet of any major offshore gas discovery to alleviate its declining supply situation. State Egyptian Natural Gas Holding Co. (Egas) is frantically searching for a floating, storage and regassification unit (FSRU) to cover its future import needs. However, with Europe’s switch away from Russian piped gas to the global LNG market, finding an ... (full story)