Qatar and Turkey Vie for Egypt's First Onshore LNG Regasification Unit

Qatar-based UCC Holding is one of three companies vying to build Egypt's first onshore LNG regasification unit. The proposed facility, which would include a regasification unit and floating storage units, has a capacity of 200,000 cubic meters. Another company, Turkey's BGN, has submitted a proposal for a regasification terminal with a daily capacity of one billion cubic feet, potentially increasing to two billion cubic feet.

The Egyptian government is aiming to increase natural gas production to about 6.6 billion cubic feet per day by 2030, up from the current average of 3.8 billion cubic feet. An Egyptian company has also submitted a proposal for an LNG regasification unit. The details of this proposal have not been disclosed.

While the proposals are promising, no decision on which company will be awarded the contract has been made yet. Cairo is set to decide on the project's future in the coming weeks.