Oil and gas

The project involves the development of a LBT in Egypt`s Sokhna Port that will include: (i) 3 Gasoil tanks (total capacity of 100,000 m3), (ii) 3 LPG tanks (total capacity of 150,000 m3), (iii) an LPG pipeline (4.3 km), (iv) a Gasoil pipeline connecting to the national grid via Mina Sadat (37.5 km), and (v) related infrastructure. The LBT will also berth the first FSRU with a storage capacity of 170,000m3 rented by EGAS from Hoegh LNG (Norway) under a five year rental contract (with a plan to add another one shortly). The first FSRU has already arrived at the terminal. The development of the LBT is part of the Basin 3 port concession that was signed between DP World Sokhna ("DPWS") (a previous IFC project) and the Red Sea Port Authority ("RSPA") in 2006 which was further amended and resigned in March 2015. Sonker has secured a 25 year Supply Point Agreement ("SPA") from the date of commercial operations with the Egyptian General Petroleum Corporation ("EGPC"), which was initially singed in 2008 and subsequently amended and signed in November 2014.

Egypt