Höegh Evi signs 10-year FSRU deal with Egypt’s EGAS

Höegh Evi signs FSRU charter with EGAS, supporting Egypt’s role as energy hub in the Middle East. (Image: Höegh Evi)

Marine energy infrastructure firm Höegh Evi has signed a 10-year charter agreement with the Egyptian Natural Gas Holding Company (EGAS) to deploy the floating storage and regasification unit (FSRU) Hoegh Gandria in Egypt starting in the fourth quarter of 2026.

Under the agreement, Hoegh Gandria will operate at the Port of Sumed, supplying up to 1 billion standard cubic feet per day (mmscf/d) of peak regasification capacity. The vessel will become a central component of Egypt’s strategy to maintain a diversified and flexible energy system amid shifting domestic and regional gas dynamics.

Höegh Evi will begin converting the Hoegh Gandria—originally an LNG carrier—into an FSRU immediately to meet the project timeline. The vessel was purchased in early 2023 with conversion plans in mind, aligning with the company’s broader strategy of repurposing marine assets to deliver scalable energy infrastructure.

“Höegh Evi is proud of our longstanding role as a trusted energy infrastructure partner to Egypt,” said Erik Nyheim, president and CEO of Höegh Evi. “The conversion of Hoegh Gandria highlights the unique flexibility of marine infrastructure, and we look forward to continuing our work with EGAS to support Egypt’s energy system.”

Hoegh Gandria will replace the Hoegh Galleon, which was temporarily deployed to Egypt in July 2024 under an interim charter with Australian Industrial Energy (AIE) and Höegh Evi. The Galleon is expected to remain in Egypt for up to another year before being redeployed to AIE’s LNG import terminal in Port Kembla, Australia, in 2027.