Breaking Ground: BGN Makes Waves in the LNG Market
Geneva-headquartered energy and commodity trading company BGN has recently made significant strides in the liquefied natural gas (LNG) sector, marking key milestones in Germany and Egypt.
A Landmark Delivery in Germany
BGN celebrated a major achievement in Germany with the successful offloading of its inaugural physical LNG cargo at the Mukran LNG terminal. The operation, carried out by the chartered vessel Celsius Gandhinagar, showcased the company’s entry into the physical LNG market.
The vessel, built in 2024 at the Samsung Heavy Industry yard, boasts a capacity of 180,000 cubic meters (cbm). The milestone, referred to in the industry as “touching the ice” due to the extreme temperatures involved, signifies a new chapter in BGN’s global energy portfolio.
Deutsche ReGas, the operator of Mukran LNG, reported record-breaking performance at the terminal, solidifying its position as the top-performing LNG terminal in Germany for the period.
Securing a Supply Contract in Egypt
On another front, BGN was selected as one of the suppliers in Egypt’s LNG procurement program, a move hailed as historic by the company. Teaming up with leading global energy firms, the initiative aims to bolster Egypt’s energy security amidst rising domestic demand and power requirements.
As part of its energy security strategy, Egypt has deployed multiple floating storage and regasification units (FSRUs), with the latest addition in May. The country’s commitment to diversifying its energy sources is evident in recent oil and gas developments, including Eni’s successful drilling operations at the Zohr 6 well, increasing natural gas production rates by approximately 60 million cubic feet per day.
With these groundbreaking achievements, BGN continues to make waves in the LNG market, solidifying its position as a key player in the global energy landscape.