News / Egypt
Solar Energy Worth $1.5m to be Built in Dakahlia
Dakahlia governor Hossam El-Din Imam announced that the Arab Organization for Industrialization (AOL) is set to install five solar photovoltaic power plants in Dakahlia governorate.
BG to Hold Rights to Rosetta Concession But Not Offshore Facilities
According to BG Group’s first-quarter offshore activities the group will continue to hold rights to the Rosetta concession, reported Offshore magazine. This is in spite of an agreement the company had signed previously with BP Egypt and RWE DEA to hand over the right of use of the Rosetta onshore ‘facilities’ from mid-2016 to process their gas from 2018.
Bombs Cuts Electricity in 14 Villages
Three bombs blew up an electricity pylon near Aswan in Upper Egypt on Monday, cutting power to 14 villages, Al-Ahram Arabic news website reported.
State-Owned Gas Company Loses EGP 17.3m
Government-owned natural gas projects company Egypt Gas has registered EGP 17.3m losses in the first quarter (Q1) of 2015, compared to EGP 73.1m recorded profits in Q4 2014, the company announced on Sunday.
EGPC to Issue New Bid Round
EGPC Chairman Tarek Al Molla said that the company will soon announce in the second half of this year a new bid round for exploration in a number of areas .
Update: Floating LNG Terminals Receives Third LNG Shipment
The third LNG shipment was offloaded onto the floating storage and regasification unit (FSRU) in Ain Sokhna. The entire shipment will be pumped into the natural gas national grid.
NBE and Banque Misr to Fund Power Plant
A new banking consortium, involving two of Egypt’s biggest public banks, the National Bank of Egypt (NBE) and Banque Misr, plans to secure a multi-billion Egyptian pound syndicated loan for a power plant in Red Sea.
Egypt to Boost Coal Production Despite Un-need
Energy experts said Egypt loses 20% of its electricity energy due to poor and old networks, in addition to a lack of oil and natural gas supplies. Egypt currently suffers from a major energy crisis due to the increase in demand, and low supply. As such, the government has turned to the coal industry as an alternative source of energy to generate electricity.
