Page 12 - DMEA Week 33 2022

DMEA TERMINALS & SHIPPING DMEA

Kanfer Shipping, EGAS, Leth Suez Transit to

establish LNG bunkering JV in Suez Canal

AFRICA STATE-OWNED Egyptian Natural Gas Hold- liquefaction facilities. This puts it in a unique
ing Company (EGAS) has signed a memoran- and competitive position to serve as a a key LNG
dum of understanding (MoU) with Norway’s bunkering hub.
Kanfer Shipping and Denmark’s Leth Suez There are three places in Egypt where LNG
Transit to build a strategic and competitive LNG can be sources: the Damietta plant, the IDKU
bunkering hub in the Suez Canal. terminal and the floating storage and regasifica-
The joint venture will charter the bunkering tion unit (FSRU) stationed in Ain Sokhna. This
ship, handle the administration and daily oper- gives flexibility and more opportunities for LNG
ation of the ship, purchase the LNG from EGAS bunkering in both Port Said and Suez. ™
or other sources and trade with ship owners and
the maritime industry at Egyptian ports in the
Mediterranean, the Suez Canal and the Red Sea.
Egypt is a strategic location for international
shipping and will be an important location for
LNG bunkering calls between Europe and Asia.
More than 20,000 ships are transiting the Suez
Canal annually, and all ships have waiting time
before the daily convoy commences. This time
can be utilized efficiently by replenishing bun-
kers in either Port Said or Suez.
There are other important ports along the
Egyptian Mediterranean coast where ships will
need LNG bunkering. There is an increasing
number of dual-fuel ships on order, with about
511 ships in the pipeline globally, in addition to
the existing fleet of 304 ships.
One of the key advantages of Egypt as an
LNG bunkering site is that the country has Rendering of Liquid Methane Bunkering Vessel (LMBV) licensed by Kanfer from
abundant natural gas resources, as well as CGR Arctic Marine for use in LNG bunkering operations (Image: Kanfer Shipping)

Golar LNG says conversion of Gimi LNG

tanker for GTA project is 86% complete

AFRICA BERMUDA-REGISTERED Golar LNG has has a minority stake in the Gimi LNG tanker, to
said the process of converting the Gimi LNG pay the Keppel shipyard a $50mn incentive in
tanker into a floating LNG (FLNG) plant for exchange for ensuring that the conversion pro-
installation at the Greater Tortue/Ahmeyim ject was finished in time for the FLNG to set sail
(GTA) block offshore Senegal and Mauritania in the first half of 2023. It noted that Golar LNG
is at least 86% complete. would cover $35mn of the total, in line with its
In a report on its performance in the second 70% stake in the vessel, with Keppel Capital cov-
quarter of 2022, Golar LNG stated that work on ering the remaining $15mn, in line with its 30%
the conversion project was moving forward at stake.
the Keppel shipyard in Singapore. The vessel was Golar LNG will use cash on hand to make
86% technically complete as of the end of June, it this payment, it added.
said, and will be ready to start production in the The commissioning and delivery of the con-
fourth quarter of 2023 as scheduled. verted tanker to BP (UK), the operator of the
The statement went on to say that Golar LNG GTA project, will help unlock about $3bn in
had struck a deal with Keppel Capital, which earnings backlog for Golar LNG.

P12 www. NEWSBASE .com Week 33 18•August•2022