Excelerate Energy in Talks with Egypt for Floating Gas Unit

Deal News | Mar 13, 2025 | Zawya

The Egyptian petroleum ministry announced that discussions are underway with Excelerate Energy, a U.S.-based company, to supply a floating storage and regasification unit (FSRU) needed to bolster Egypt’s natural gas supply. Excelerate Energy, led by CEO Steven Kobos, expressed their commitment to deliver necessary FSRUs, complementing Egypt’s existing LNG import infrastructure in Ain Sokhna. This development comes as Egypt contends with a gas shortage and rising electricity demand, alongside recent collaborations with Cyprus to expand Eastern Mediterranean gas export capabilities.

Sectors

Oil & Gas
Energy Infrastructure

Geography

Egypt – The central focus of the article is on Egypt’s efforts to secure LNG through Excelerate Energy’s FSRU.
United States – Excelerate Energy, the company in talks with Egypt, is based in the United States.
Eastern Mediterranean – The region is mentioned in the context of broader LNG trade collaboration opportunities and resource exploration.

Industry

Oil & Gas – The primary focus of the article is on the oil and gas industry, specifically the supply and importation of liquefied natural gas (LNG) through a FSRU.
Energy Infrastructure – The article discusses the development and enhancement of energy infrastructure in Egypt to ensure reliable gas supplies.

Financials

Participants

Name	Role	Type	Description
Excelerate Energy	Supplier	Company	A U.S.-based firm specializing in downstream LNG infrastructure and operating a fleet of FSRUs.
Steven Kobos	CEO	Person	CEO of Excelerate Energy, involved in discussions with Egypt concerning the provision of FSRUs.
Egyptian Petroleum Ministry	Government	Government	The Egyptian government entity responsible for the country's petroleum resources, leading talks with Excelerate Energy.
Mohamed Ezz	Reporter	Person	Reporter who contributed to the news article.
Aidan Lewis	Editor	Person	Editor involved in preparing the final publication of the article.