Reuters: No fix for Egypt's LNG needs as search for terminal widens

Egypt has missed a window to avert gas shortages this year as plans to secure a floating import terminal from a Norwegian firm hit snags, causing officials to hedge their bets by restarting talks with U.S.-based rival Excelerate Energy.

The two-year tale of Egyptian efforts to secure a floating liquefied natural gas (LNG) terminal is mostly one of delay, despite desperate need at home for gas to keep the lights on.

State-run energy firms EGAS and EGPC promised to have a terminal up and running last summer until a chaotic tendering process and political upheaval forced it to push back the job by a year.

The most recent talks between EGAS and Norwegian terminal provider Hoegh LNG showed signs of progress, but hurdles to achieving a deal have since emerged, industry sources with direct knowledge of events have told Reuters. MORE