Egypt plans to expand its liquefied natural gas storage facilities to meet peak import demands.

According to informed sources, Egypt's state-owned natural gas company, Egyptian Natural Gas Holding Company, plans to introduce a floating liquefied natural gas storage facility to ensure the ability to receive liquefied natural gas transportation during the peak electricity demand in the summer. The unnamed sources indicated that Egyptian Natural Gas Holding Company plans to lease the storage vessel from June to September, and place it in either Ain Sukhna Port or Damietta Port, with the option to renew the lease; relevant personnel are not authorized to speak publicly.