News / Egypt
SUMED Signs $100m Loan Contract with National Bank of Egypt
Minister of Petroleum and Mineral Resources Tarek El Molla witnessed the signing of an Egyptian loan contract to fund Phase 1 of the construction of a pier and a center for the trade and storage of oil products in Ain Sokhna between the Arab Petroleum Pipelines Company (SUMED) and the National Bank of Egypt (NBE).
Eni, BP Discover 700bcf of Extractable Gas in South Baltim
After completing the drilling operations of their first well, Baltim SW-1, British Petroleum (BP) and Italy’s Eni have estimated the reserves in their concession area in South Baltim to equal almost 700bcf of extractable gas.
Egypt’s Power Plants’ Gas Consumption Increases to 3.4bcf/d
Egypt’s Power plants’ consumption of natural gas has increased to 3.4bcf/d over one week in mid July, up from 3.3bcf/d, due to the country’s high summer temperatures.
China, Egypt Start EETC Project Operations
The largest transmission lines project in Egypt’s history, the Egyptian EETC 500kV Transmission Lines Project (EETC Project), a cooperative venture between China Electric Power Equipment and Technology Co. Ltd (CET) and Egypt, is currently under construction.
Egypt to Ink Dabaa Nuclear Plant Final Contract Soon
Egypt's Minister of Electricity and Renewable Energy, Mohamed Shaker, affirmed that the final binding contract for the Dabaa nuclear plant, that will remain in effect for 60 years, is to be endorsed soon.
EU’s TARES Project in Egypt Eyes 18% Energy Saving by 2035
The European Union (EU) has announced that their funded Technical Assistance to Support the Reform of the Energy Sector (TARES) project in Egypt can achieve feasibly energy savings up to 20 million tons of oil equivalent (mtoe) by 2035, corresponding to 18% of the total consumption in 2035.
Egypt’s Cabinet Confirmed Fuel Exempted from VAT
The cabinet confirmed that Egypt’s petroleum based products are to be exempted from the value-added tax (VAT), which is yet to be presented to the parliament.
EU’s Twinning Project to Develop Egypt’s Power Sector
In partnership with the Regulatory Authority for Energy of the Hellenic Republic (RAE) and the Italian Regulatory Authority for Electricity, Gas, and Water (AEEGSI), the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) will launch the European Union (EU) Twinning project.
