Trio plans to develop LNG bunkering in Egypt by 2025
Egyptian Natural Gas Holding Company (EGAS), Norway’s shipping firm Kanfer and shipping agency Leth Suez Transit have agreed to establish a joint venture to offer LNG bunkering in Egypt.
PHOTO: A model of Kanfer's 6,000 cbm-capacity LNG supply vessel. Kanfer
They seek to cater to rising LNG bunker demand from dual-fuelled LNG vessels at Egypt’s Port Said and Port Suez, and will charter an LNG bunker vessel from Kanfer to deliver stems in these ports.
Kanfer argues that vessels can spend the time while waiting in line to transit the Suez Canal to replenish bunkers. It says around 20,000 vessels pass through the canal every year.
Data from shipping classification society DNV suggests that around 511 dual-fuelled LNG vessels are ordered for deliveries from 2028. This comes in addition to 304 vessels currently in operation.
The joint venture expects to offer LNG bunkers at competitive prices compared to other hubs such as ARA and Singapore, said Kanfer’s managing partner Stig Hagen. The firm will primarily procure LNG from EGAS while being open to other sources.
The trio intends to fast-track construction of LNG bunkering infrastructure in Port Said and Port Suez with an aim to start operations by 2025.
Last year, Kanfer placed orders of two 6,000 cbm-capacity LNG supply vessels that will be built by China’s Taizhou Shipyard.
