NEPCO Rents LNG Storage Vessel

(MENAFN- Jordan Times) AMMAN - The National Electric Power Company (NEPCO) on Thursday signed a 10-year renting ending in ownership contract with BW LNG Group for a floating storage vessel to be stationed in Aqaba, aimed at meeting Jordan's liquefied natural gas (LNG) needs and enhancing its energy security.

NEPCO Director General Sufian Bataineh said that, under the agreement, NEPCO will take full ownership of the vessel after the lease period ends, highlighting that the vessel will be deployed at the Sheikh Sabah Al Ahmad Al Jaber Al Sabah LNG Terminal, the Jordan News Agency, Petra, reported.

Bataineh said:“We are pleased to partner with BW LNG to provide a reliable, long-term energy security solution for the Kingdom.”

He added that the vessel would undergo modifications before the lease begins to meet the technical requirements of the Sheikh Sabah Port development.

Bataineh also underscored the company's commitment to energy diversification and security, noting that the project aligns with global efforts to transition to a low-carbon economy.

“This initiative supports our strategy to secure a diverse gas supply and contribute to sustainable, affordable, and reliable energy,” he said.

The vessel, which was previously used as an LNG carrier, will be converted into a floating storage unit, with operations expected to begin in the third or fourth quarter of 2026, he said.

BW LNG's fleet includes 34 ships, four of which are floating storage and regasification units, with four more under construction, according to Petra.

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