Seatrium, Singapore’s prominent offshore and marine company, has secured a major contract to convert Hoegh Evi’s LNG carrier, Hoegh Gandria, into a Floating Storage and Regasification Unit (FSRU). This strategic move follows Hoegh Evi’s 10-year time charter agreement with the Egyptian Natural Gas Holding Company (EGAS) for deploying Hoegh Gandria as an FSRU in Egypt.
Contract Details:
• The value of the contract was not disclosed.
• The conversion scope includes:
• Installation of a regasification skid.
• Integration of cargo handling, utility, offloading, electrical, and automation systems.
• Engineering works will begin this month, with the project expected to last 18 months.
Hoegh Gandria’s Role in Egypt:
Upon completion, the Hoegh Gandria FSRU will be stationed at the Port of Sumed in the fourth quarter of 2026. It will provide up to 1 billion cubic feet per day of peak LNG regasification capacity, enhancing Egypt’s energy infrastructure.
• The vessel is currently anchored in Thai waters, ready for conversion.
• The FSRU will replace the Hoegh Galleon, which has been temporarily stationed in Egypt since July last year.
Background and Strategic Impact:
• In February, Hoegh Evi purchased the Hoegh Gandria (formerly known as Golar Seal) for $184.3 million from Cool Company (CoolCo), aiming to transform it into a high-capacity FSRU.
• Erik Nyheim, CEO of Hoegh Evi, emphasized the company’s commitment to leveraging marine infrastructure for flexible, high-performance energy solutions.
• The Hoegh Galleon is scheduled to remain in Egypt for another year before its transfer to Squadron Energy’s LNG import terminal in Port Kembla, New South Wales, Australia, in 2027.
The successful execution of this project is set to solidify Seatrium’s reputation in the LNG sector and strengthen Hoegh Evi’s long-term partnership with EGAS, contributing to Egypt’s diversified energy landscape.
