Aqaba, Oct. 11 (Petra) – Minister of Energy and Mineral Resources Saleh Kharabsheh inspected the development project of the liquefied natural gas (LNG) port Sheikh Sabah Al-Ahmad LNG Port in Aqaba, a strategic project aimed at strengthening the Kingdom’s energy security.

During the visit, the minister held a meeting with project manager Omar Bdoor from Aqaba Development Corporation and the contractor in charge, alongside the Director General of the National Electric Power Company Sufian Al-Bataineh, the Director of the logistics company Ashraf Al-Rawashdeh, and the Ministry’s Director of Oil and Gas Directorate Iman Awad. The discussion focused on the latest project developments and the challenges affecting progress.

The project aims to maintain the LNG import option for electricity generation and industrial supply, considered strategic for ensuring continuity of energy supply should current sources face disruptions, while also helping to reduce electricity generation costs.

Aqaba Development Corporation, in cooperation with the Ministry of Energy and the National Electric Power Company, is overseeing the project, which includes developing an onshore regasification unit (ORU) with a capacity of up to 700 million cubic feet per day and replacing the existing floating storage and regasification unit (FSRU) with a new floating storage unit (FSU).

The project is financed through two concessional loans: KD 18.2 million from the Kuwait Fund for Arab Economic Development and KD 21 million from the Arab Fund for Economic and Social Development. The contract for the onshore regasification unit was awarded to a joint venture of AGP International Holdings Pte Ltd, Gas Entec Co. Ltd, and Issa Haddadin & Partner at a cost of USD 125 million. Implementation is scheduled over 22 months from the start date, with operations expected to begin in September 2026.

//Petra// AF