Kanfer, Egas and Leth Agencies to setup Suez LNG bunkering hub

Kanfer Shipping, Leth Suez Transit and Egyptian Natural Gas Holding Company are looking to work together with commodity traders to establish a liquefied natural gas (LNG) bunkering hub in the Suez Canal by 2025.

Egas has initiated the establishment of a joint venture that will charter the bunkering vessel, take care of the administration, including daily operation, and also purchase its LNG or from other sources to trade it to shipowners and the shipping industry.

Leth Agencies and Kanfer said they are now primarily seeking experienced joint venture partners within bunkering and commodity trading who can take an active part in creating a business model for this “high potential and attractive” project in Egypt.

Egypt’s natural gas resources and liquefaction facilities are said to be one of the key advantages for LNG bunkering, which puts the country in a competitive position against the key LNG bunkering hubs of the world.

Egypt has LNG sources in Damietta, IDKU terminal and the FSRU stationed in Ain Sokhna that give flexibility and more opportunities for LNG bunkering in both Port Said and Suez.