BW Gas wins Egypt Gas Terminal deal

expat network

BW Gas wins Egypt Gas Terminal deal

BW Gas, the Norwegian-Singaporean gas shipping giant has won a bid to provide Egypt with a floating Liquefied Natural Gas (LNG) vessel for five years, the Petroleum Ministry reported.

The ship will be delivered to Egypt’s shores in September, said Khaled Abdel Badee, the Chairman of the state’s Egyptian Natural Gas holding company, according to a statement provided by the ministry.

The vessel will receive imported LNG and convert it back into gas, supplying Egypt with 750 million cubic feet daily.

Egypt can export LNG, but cannot import it without a terminal to convert it back into gas state.

BW Gas’s ship will be the second floating LNG vessel rented by Egypt, as the Egyptian government boosts natural gas imports in order to meet local demand.

Abdel Badee said seven companies were invited to make offers, according to the ministry’s statement.

After analysing offers made by four companies BW Gas was picked because it had better prices, he added.

Abdel Badee said the new ship will dock at the port of Ain Sokhna, by the Red Sea. By mid-October, test-runs will be conducted and the ship’s supply will be integrated into the state’ s grid for natural gas.

Egypt has faced a recurring energy crisis for the past few years.

Egyptian authorities have often attributed the power crisis to a larger fuel crisis.

Abdel Badee said a tender launched by Egypt in July to import LNG was closed on Sunday and offers are being assessed. He added that around 45 LNG shipments will be imported.

As of March, Egypt had agreed to import to 90 shipments of LNG, provided by five foreign companies, 49 of which are going to be delivered in 2015 and 2016.

Source: AlbaWabaBusiness

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.